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RENEWABLE
POWERGENERATION
COSTSIN2021
Thegrowingcompetitiveness
ofrenewableenergycontinuesto
providethemostcompellingpathway
tothedecarbonisationoftheglobal
energysystem
©sdf_qwe/S
RENEWABLEPOWERGENERATIONCOSTS2021
FOREWORD
Thecompetitivenessofrenewablescontinuedtoimprovein2021,withdata
fromtheIRENARenewableCostDatabaseindicatinganongoingdeclinein
thecostofelectricitygeneratedbyrenewablesandaffirmingtheiressential
roleinthejourneytowardsanetzerofuture.
Renewablesrepresentavitalpillarintheglobalefforttoreduceandultimately
phaseoutfossilfuels,increasingnationalresilienceinthefaceoffossilfuel
pricevolatility.
Highcoalandfossilgaspricesin2021and2022havefurtherunderminedthe
competitivenessoffossilfuels,makingsolarandwindevenmoreattractive.
FrancescoLaCameraWiththeunprecedentedsurgeinEuropeanfossilgasprices,newfossilgas
generationinEuropewillincreasinglybecomeuneconomicoveritslifetime,
Director-General
bringingthehighriskofstrandedassets.
InternationalRenewable
EnergyAgency
Conversely,theworldhaswitnessedaseismicshiftinthecompetitivenessof
renewablepowergenerationoptionssince2010.Theglobalweightedaverage
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