A July report by the International Renewable Energy Agency underscores the cost-effectiveness of clean energy projects.
In 2024, renewable energy capacity increased 20% around the globe from 2023, Reuters reported. The addition of those 582 gigawatts of wind, solar, hydropower, and more also saved untold sums of money, with 91% of utility-scale renewable projects “more cost-effective than fossil fuel alternatives,” it added.
Onshore wind projects were 53% cheaper than the lowest-priced dirty fuel alternatives, and solar projects were 41% cheaper.
“The costs of renewable technologies have been decreasing since 2010 due to technological advances and economies of scale,” Reuters stated, noting a 93% decline since 2010 in the cost of battery energy storage systems, per the report.
The outlet said that price reductions are expected to continue despite “geopolitical tensions, trade tariffs, and bottlenecks in raw…
