The cost of producing renewable energy is falling year on year

According to a report by the International Renewable Energy Agency, prices have fallen by more than 10% in one year, and this trend is set to continue.

Producing renewable energy costs less and less. This is affirmed by the International Renewable Energy Agency (Irena, an organization bringing together 150 States), according to which prices have fallen by more than 10% in one year; up to 26% for the solar part. In detail, the cost of bioenergy has lost 14%, that of photovoltaics, onshore wind and hydropower, 12% and that of wind and offshore energy, 1%. And this reduction is long-term. In France, for example, the cost of onshore wind power has fallen by 44% over the past 25 years, we also learned.

“Renewable energy is the backbone of any development aimed at being sustainable,” comments Irena’s director general, Francesco La Camera. “We must do everything in our power to accelerate renewables if we are to achieve . Today’s report sends a very clear message to the entire international community: renewable energy is a low-cost solution for every country, which protects the climate and enables initiatives on a larger scale. he.

Slowdown in the development of these energies in 2018

These increasingly advantageous prices can be explained in particular by the reduction in the cost of equipment, essentially at the level of solar and wind power – which concentrate a large part of this energy – as well as by more efficient production processes over time. years. Irena also assures that this reduction should last after 2020, which will make their production even more interesting in the coming years. Thus, still according to the agency, more than three quarters of the onshore wind energy and four fifths of the photovoltaic solar capacity which will be implemented in 2020 will produce electricity cheaper than any coal-fired power plant, in oil or gas.

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However, a black point should be noted. Despite the increasingly attractive financial nature of these energies, their production surprisingly stagnated in 2018 for the first time since 2001, according to figures from the International Energy Agency (IEA). In total, the increase in renewable capacities recorded in the world last year represented only 60% of the effort necessary (and requested) to limit the impact of the energy sector on global warming. Indeed, renewable energies should grow by 300 GW per year on average between 2018 and 2030 to achieve the objectives of the Paris climate agreement, which was therefore not the case last year. It is “an unexpected slowdown in growth trends which raises concerns about the ability to achieve long-term climate goals”, was alarmed by the IEA following this publication in early May. The world climate summit to be held in Abu Dhabi in June will certainly place the subject on the menu of discussions.

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