Tumbling renewable energy prices are galvanising the climate-action case for wind and solar as the engines of the global energy transition, the recently elected director-general of the International Renewable Energy Agency (Irena) has claimed, launching its latest report.

With renewables technologies’ levelised cost of energy (LCOE) falling to a new record-low last year – with the report, Renewable Power Generation Costs in 2018, highlighting that concentrating solar power was down by 26%, PV and onshore wind both by 13%, hydropower by 12% and offshore wind by 1%, respectively – their “cost advantage will extend further”, said Francesco La Camera.