Renewables Are Booming. So Why Aren’t Fossil Fuels Declining?

Renewables Are Booming. So Why Aren’t Fossil Fuels Declining?

Solar overtook wind in global electricity generation in 2025 as renewables surged, but rising global energy demand still prevented fossil fuel consumption from declining.

USD 480 Billion Fossil-Fuel Costs Avoided by Renewable Energy Boom in 2025

Renewable power costs remain low, making renewables the cheapest source of new electricity in most markets and further strengthening their cost advantage over fossil fuels. Renewable Power Generation Costs in 2025, released by the International Renewable Energy Agency (IRENA) today, estimates that more than 90% of the utility-scale renewable capacity added in 2025 was cheaper than the lowest-cost new fossil alternative. The cost advantage of ren…