Full Title: Renewable Power Generation Costs in 2024
Author(s): IRENA
Publisher(s): IRENA
Publication Date: July 10, 2025
Full Text: Download Resource
Description (excerpt):
Renewables continue to prove themselves as the most cost-competitive source of new electricity generation. On an LCOE basis, 91% of newly commissioned utility-scale renewable capacity delivered power at a lower cost than the cheapest new fossil fuel-based alternative. In 2024, renewables helped avoid USD 467 billion in fossil fuel costs, reinforcing their role in enhancing energy security, economic resilience, and long-term affordability.