A significant majority of the renewable energy capacity installed last year in G20 countries was cheaper than even the cheapest coal-fired electricity, a new report from the International Renewable Energy Agency shows. Almost two-thirds of 244 GW of renewable energy capacity installed last year was cheaper than coal, with the cost of onshore wind falling 15% and offshore wind and PV solar falling 13% in 2021 compared to 2020. With methane-based gas prices remaining high in the wake of the Russian war and atrocities in Ukraine, the intergovernmental body’s report found wind and solar generation saved Europe as much as $50 billion in imported fossil fuel costs from January to May of this year. (Reuters)