Renewable energy sources, especially solar photovoltaic and wind power, are providing an increasing share of power capacity.
The competitiveness of renewable energy is a key to a rapid deployment. In 2020, onshore wind and solar photovoltaics were the cheapest source for new bulk electricity generation in many regions. Renewables may have higher storage costs but non-renewables may have higher clean-up costs. A carbon price can increase the competitiveness of renewable energy.
