In most parts of the world today, renewables are the lowest-cost source of power generation.
The latest study by IRENA (International Renewable Energy Agency) shows that it’s the end for coal-fired power. This points to how cheap renewables can power the electrification needed to reduce carbon emissions from transport.
Continuing falling solar module prices and other PV array components allows solar to have the best learning rate of all renewable energies.
“The importance of the rise of renewables will be felt beyond the power sector, said the agency; with the 19% chunk of overall global energy demand supplied by electricity today: set to rise to 49% by 2050. Electricity could power 70% of passenger transport by that date, and 43% of all transport”.
Solar power is leading in driving the energy transition from coal to clean power generation and small generators to commercial systems will have a part to play.