The global weighted average cost of onshore wind and PV solar have respectively dropped to $0.06/kWh and $0.10/kWh, per a recently issued report from the International Renewable Energy Agency (IRENA). In fact, recent renewable energy PPA tenders in Mexico and Alberta, Canada have yielded average costs of $0.021/kWh and $0.029/kWh, respectively.

Per the IRENA report, “these cost declines across technologies are unprecedented and representative of the degree to which renewable energy is disrupting the global energy system."