The decade 2010 to 2020 saw renewable power generation becoming the default economic choice for new capacity.

In that period, the competitiveness of solar (concentrating solar power, utility‑scale solar photovoltaic) and offshore wind all joined onshore wind in the same range of costs as for new capacity fired by fossil fuels, calculated without financial support.

Indeed, the trend is not only one of renewables competing with fossil fuels, but significantly undercutting them, when new electricity generation capacity is required.

Report by Irena