Onshore Wind Power Now as Affordable as Any Other Source, Solar to Halve by 2020

13 January 2018 | Press Releases

The new IRENA cost report finds all renewable technologies will be competitive by 2020. The cost of generating power from onshore wind has fallen by around a quarter since 2010, with solar photovoltaic (PV) electricity costs falling by 73 per cent in that time, according to the analysis. 

Infographics

  • Europe can double its share of renewables cost-effectively
  • Renewables are key to EU's decarbonisation
  • The IRENA8A ADFD Project Facility has mobilised USD 630 million
  • Average renewable power generation costs in the fossil fuel range in 2017
  • Increased deployment of renewables can boost global GDP by 0.8% in 2050
  • Renewable energy has become dramatically cheaper to produce and store
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