Energy outlook crowns solar new king

Electricity generation will undergo a massive change over the next five years as renewable energy sources, led by solar power, overtake coal-fired power plants for energy production, according to the International Energy Agency’s World Energy Outlook 2020. The report notes that solar photovoltaic systems are consistently cheaper than new coal- or gas-fired power plants in most countries and offer some of the lowest-cost electricity in history. “Solar is the new king of the global electricity markets,” said Fatih Birol, the executive director of IEA, during the official release of the agency’s report at a press conference in October.


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