Renewable energy will be equal or cheaper than fossil fuels in 2020

The International Renewable Energy Agency (IRENA) believes wind and solar will be equal or cheaper than fossil fuels by 2020.

Prices could be as low as three cents per kilowatt-hour for onshore wind and solar photovoltaic projects over the next two years. The average by 2020 is expected to be around five cents for onshore wind and six cents for solar photovoltaic auctions.

Hydropower was the cheapest at five cents per kilowatt-hour, onshore wind at six cents, and bioenergy and geothermal sources at seven cents. Solar projects are still high in comparison at 10 cents per kWh

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