In most of the world, renewable electricity is already competitive in terms of price with fossil fuels. That’s good news, but according to a new report, renewable energy is set to get the upper hand by 2020. In the report, analysts predicted that all forms of renewable electricity will be consistently cheaper than power produced by burning fossil fuels. Today, fossil-fuel power typically costs between $0.05 to $0.17 per kWh. By comparison, all forms of renewables are expected to be under the threshold of $0.10 per kWh by 2020, with hydropower, onshore wind, bioenergy and geothermal all sitting under $0.07 per kWh already.
Renewables will be consistently cheaper than fossil fuels by 2020
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