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Over 90% of global renewable power projects are now cheaper than fossil fuels
Solar is 40% cheaper, and onshore wind is under half the price.
A 2023 analysis from the IEA found that 96% of newly installed solar PV and onshore wind capacity had lower generation costs than new coal and natural gas plants. Bill Hare, chief executive of the Climate Analytics thinktank told The Guardian that he expects even more of a gap to open up between renewables and fossil fuels. Fossil fuels are a primary example of a product rife with negative externalities, ranging from air and water pollution, which lead to adverse health outcomes such as respiratory illnesses and cardiovascular disease, to the extensive environmental degradation from extraction and transportation.
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