Renewable Energy 20/11/2012
Renewable energy has also become the least-cost option for extending grid supply in areas with suitable resources, such as sun and wind. The International Renewable Energy Agency (IRENA) findings serve as a wake-up call to policy-makers on the declining cost of renewables.
“A renewable revolution is underway,” said Dolf Gielen, IRENA’s Innovation Director. “Recent years have seen consistent, sometimes dramatic, falls in the cost of electricity from renewables – making it the cheapest option off-grid, and even on-grid in places with plentiful resources. The message is clear: renewable energy today is often the cheapest option to meet rising demand for electricity – even without subsidies. It is also healthier, and better for the environment. A renewable energy future is now bankable, and there are further cost reductions to come.”