Report: Franciéli Barcellos de Moraes |COP30 Brasil Voice-over: Bárbara Bezerra
Reporter: Renewable energy sources remain cheaper than fossil fuels, a key finding of a new report by the International Renewable Energy Agency (IRENA), featuring updated 2024 data. The document was released during a United Nations event in New York.
According to the study, 91% of renewable energy projects commissioned last year were more cost-effective than any new fossil fuel-based alternative. Beyond affordability, renewables help reduce dependence on international fuel markets and enhance countries’ energy security.
Ambassador André Corrêa do Lago, COP30 president — the conference will be held this year in Belém — welcomed the report with enthusiasm. He believes the data signals society's capacity to respond to the challenges of climate change.
André Corrêa do Lago: Tackling climate change is a huge economic opportunity, but also a great opportunity to improve people’s lives and create jobs. Climate change is a major challenge, but our response is possible.
Reporter: The report also highlights that Brasil was the fourth-largest country globally in terms of new renewable energy capacity additions in 2024, trailing only China, the United States, and the European Union. While hydropower remains predominant in Brasil’s energy mix, solar and wind sources are expanding rapidly.
In the onshore wind power segment, Brasil and China shared global leadership in competitiveness, with an average cost of USD 30 per megawatt-hour. Solar photovoltaic energy reached an average of USD 48 per megawatt-hour in Brasil, demonstrating strong feasibility compared to fossil fuels.
Globally, solar photovoltaic energy costs 41% less on average than the cheapest fossil fuel options, while onshore wind power was 53% cheaper. To further expand the sector, the IRENA report recommends measures such as the adoption of power purchase agreements (PPAs), secure regulatory frameworks, political stability, and clear, reliable procurement models.
English version: Trad. Bárbara Menezes
Proofreading by Enrique Villamil