IRENA: Over 90% of New Renewable Projects Cheaper Than Fossil Fuels in 2025, Battery Costs Drop 30%
By
Junaid Shah
Summary
IRENA's 2025 report reveals that over 90% of newly commissioned utility-scale renewable energy projects produce electricity cheaper than the cheapest new fossil fuel alternatives. Battery energy storage costs also fell sharply (30%), signaling a new phase in the global energy transition. The report underscores renewables' growing cost competitiveness without subsidies.
Source
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bskyIRENA: Over 90% of New Renewable Projects Cheaper Than Fossil Fuels in 2025, Battery Costs Drop 30%saurenergy.comKey quotes
· 3 pulledMore than 90% of newly commissioned utility-scale renewable power projects produced electricity at a lower cost than the cheapest new fossil fuel alternatives.
Battery energy storage costs fell 30%, signalling a new phase in the global energy transition.
Renewable energy continued to strengthen its cost advantage over fossil fuels in 2025.
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