reNews2 Jul 2026Macro
Automatically composed with AI from the cited sources
Renewables added in 2025 were cheaper than new fossil fuel alternatives in over 90% of utility-scale cases, with onshore wind averaging $33/MWh (down 4% year‑on‑year), offshore wind $78/MWh (down 3%) and solar PV holding at $44/MWh, while new gas‑fired capital costs almost doubled in the United States and power costs neared $100/MWh in Italy, Germany and Japan. The agency estimates that 2025 renewable generation avoided $480bn in global fossil‑fuel costs, $377bn of that across 20 major economies including $177bn in China, $35bn in the United States and $32bn in Brazil, and that renewable output buffered Strait of Hormuz‑related market volatility in early 2026.