Come on IRENA

I came across the awesome International Renewable Energy Agency (IRENA) via a summary of their work in a World Economic Forum bulletin. I am not doing justice to their meticulously detailed and comprehensive analysis when I highlight just 2 points:

• Of the wind, solar and other renewables that came on stream in 2020, nearly two-thirds – 62% – were cheaper than the cheapest new fossil fuel

• IRENA’s report….. finds that costs for renewable technologies are continuing to fall “significantly” year-on-year

So, renewable energy is already cheaper than fossil fuel and it continues to get cheaper. Hopefully, the capital markets are efficiently reallocating funds to enable an acceleration in renewables projects as required to meet the net zero goals.