Renewable energy will be cheaper option, says IRENA

According to an estimate by IRENA (International Renewable Energy Agency in English), in 2020, the costs of producing electricity from renewable sources will be cheaper than the traditional generated from the burning of fossil fuels. The organization stated that cost reduction is due to the boost generated by production growth and technological improvements in the electrical sector. The report is conducted based on a global average.

According to the agency, the biggest fall between the years 2017 and 2018 is related to concentrated solar thermal energy (CSP), when its global average cost fell by 26%. Then the bioenergy, which was 14% cheaper. The value of production for the generation of photovoltaic panels and wind energy onshore (referring to the plants installed ashore), both fell 13%. Falls were also recorded in the production course of hydroelectric power plants for 11% and offshore wind turbines for 1%.

After studies of these figures, the organization predicts that, by the next year, electricity produced from wind and solar photovoltaic energy is considerably cheaper than that generated by any fossil fuel source, responsible for causing Environmental damage, for example, greenhouse gas emissions.

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