TRUE

Renewable energy is currently the cheapest source of new electricity generation in most regions across the globe 2 9. As of 2025, approximately 90% of newly commissioned renewable energy projects are more cost-effective than fossil fuel alternatives 6. Reports indicate that solar and wind are the cheapest options for new generation, with solar specifically being labeled the cheapest form of electricity in history 8 12. By 2024, renewable sources accounted for more than 90% of all new electricity capacity added worldwide due to these economic advantages 13. In specific markets like the U.S., China, and Brazil, onshore wind and solar prices have dropped significantly, with solar reaching as low as $38 per megawatt-hour in China 9 11. While grid integration presents complexity challenges, the levelized cost of energy for renewables remains significantly lower than coal or gas 1 10. This shift saved an estimated $55 billion in global energy generation costs in a single year 7.