Renewable electricity costs plummet, rendering coal uneconomical !!
The cost of electricity generated from renewables plunged in 2019, making fossil fuel plants increasingly uneconomically, a report has claimed. The International Renewable Energy Agency (IRENA) said that more than half of the renewable capacity added in 2019 achieved lower power costs than the cheapest new coal plants. On average, new solar and onshore wind power cost less than keeping many existing coal plants in operation and auction results show this trend accelerating. IRENA said this “reinforced” the case to phase-out coal entirely. Next year, up to 1,200 Gigawatts (GW)…