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RPGC Report 2025
July 31 , 2025
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- The International Renewable Energy Agency (IRENA) has released the Renewable Power Generation Costs (RPGC) Report 2025.
- The report highlights the growing cost-effectiveness of renewable energy sources.
- In 2024, global renewable power capacity additions reached 582 gigawatts (GW).
- Solar photovoltaics (PV) accounted for 452.1 GW (77.8%), and wind contributed 114.3 GW.
- In 2024, 91% of new renewable energy projects commissioned globally delivered power at a lower cost than the cheapest fossil fuel-based alternatives.
- Solar PV was, on average, 41% cheaper than fossil fuels.
- The addition of 582 GW of the renewable capacity in 2024 led to significant cost savings, avoiding fossil fuel use valued at approximately $57 billion.
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