By Renewable Energy World Costs for renewables continued to fall in 2021 as supply chain challenges and rising commodity prices have yet to show their full impact on project costs. The cost of electricity from onshore wind fell by 15%, offshore wind by 13% and solar PV by 13% compared to 2020.
Renewable Power Generation Costs in 2021, published by the International Renewable Energy Agency (IRENA) on July 13, shows that almost two-thirds or 163 GW of newly installed renewable power in 2021 had lower costs than the world’s cheapest coal-fired option in the G20.
IRENA estimates that, given the current high fossil fuel prices,
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