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Abu Dhabi, July 22 (Petra) – Renewable energy continues to offer competitive costs in global energy markets, according to the Renewable Power Generation Costs in 2024 report released Tuesday by the International Renewable Energy Agency (IRENA).
The report, published in Abu Dhabi, revealed that the addition of 258 gigawatts of renewable energy capacity in 2024 resulted in substantial financial savings avoiding an estimated $57 billion in fossil fuel costs.
It also highlighted that 91 percent of renewable energy projects commissioned last year delivered electricity at a lower cost than the cheapest new fossil fuel-based option, reinforcing the sector’s growing dominance and economic advantage in energy production.
//Petra// AF
22/07/2025 21:03:59
