Renewable energy technologies have experienced spectacular cost declines since 2010, driven by technology improvement, competitive supply chains and economies of scale. Notably, 91% of new renewable power projects commissioned in 2024 globally were more cost-effective than any fossil fuel-fired alternative.
Source: International Renewable Energy Agency, Renewable Power Generation Costs in 2024 report
Renewables become cheap / Renewables energy / Renewables energy become cheap so fast / International Renewable Energy Agency (IRENA)