03/06/2020 (Agence Europe) – The costs of renewable energy are now increasingly competitive compared to those from any new fossil fuel-based electricity capacity, according to a new report by the International Renewable Energy Agency (IRENA), which was released on Tuesday 2 June. “Renewable energy is increasingly the cheapest source of new electricity”, said Francesco La Camera, IRENA's Director General. The report shows that, on average, it is cheaper to commission new solar photovoltaic and wind power plants than it is to keep many coal-fired plants in operation. IRENA also estimates that replacing the most expensive 500 GW of coal with renewable energy by as early as next year would reduce the costs of electricity systems by $23 billion each year and would reduce global annual emissions by about 1.8 gigatonnes of CO2. To view the report: https://bit.ly/3gLNFw9 (DG)