IT House July 16 news, a report released by the International Renewable Energy Agency (IRENA) shows that in 2021, newly commissioned renewable energy power generation facilities will generate 163 gigawatts (GW) of electricity than G20 countries will generate coal-fired electricity. The cheapest electricity is even cheaper, with 163 gigawatts accounting for two-thirds of last year’s renewable electricity additions.
The International Renewable Energy Agency’s 2021 Renewable Power Generation Costs states that compared to 2020, the cost of onshore wind power has fallen by 15%, offshore wind by 13% and solar power by 13%. Among them, the Russian-Ukrainian war led to rising coal and natural gas prices, which further increased the cost of thermal power generation.
According to Francesco La Camera, director general of the International Renewable Energy Agency, so far,Renewable energy generation is the cheapest form of electricity generation. Especially in 2022,Renewable power generation shields some economies from volatility in fossil fuel prices and supplies, effectively reducing energy costs and enhancing market resilience. The current increase in the cost of thermal power generation is a reminder to people, and the use of renewable energy to generate electricity and save energy will be the future trend.
IT House understands that the United Nations Climate Change (UNCC) report shows that investment in renewable energy power generation projects will continue to generate huge dividends in 2022. In non-OECD countries, the 109 gigawatts of new renewable energy generation in 2021 will cost less than the cheapest fossil-fuel power generation option and reduce costs by at least $5.7 billion per year over the next 25-30 years. At the same time, rising coal and natural gas prices have also made solar and wind power more attractive.
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