"A decade ago, the cheapest way to meet growing demand for electricity was to build more coal or natural gas power plants. Not anymore. Solar and wind power aren't just better for the climate; they're also less expensive today than fossil fuels at utility scale, and they're less harmful to people's health. Yet renewable energy projects face headwinds, including in the world's fast-growing developing countries."
"As their technologies have matured, solar power and wind power have become cheaper than coal and natural gas for utility-scale electricity generation in most areas, in large part because the fuel is free. The total global power generation from renewable sources saved $467 billion in avoided fuel costs in 2024 alone. As a result of falling prices, more than 90% of all electricity-generating capacity added worldwide in 2024 came from clean energy sources, according to data from the International Renewable Energy Agency."
Solar and wind power have become less expensive than coal and natural gas for utility-scale electricity generation in most areas, largely because their fuel is free. Global renewable power generation saved $467 billion in avoided fuel costs in 2024. More than 90% of added electricity-generating capacity in 2024 came from clean sources, and renewables accounted for 46% of global installed electric capacity with 585 gigawatts added that year. Replacing fossil fuels reduces air pollution and related health harms, with fossil fuel air pollution estimated to cause about 5 million deaths annually. Expanding renewables in fast-growing developing countries will require international cooperation to address deployment challenges.
Read at Fast Company
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