Clean energy

Solar Is Now The Cheapest Electricity In Human History

In 2010 solar cost 414% more than fossil fuels. By 2023 it was 56% cheaper.

By the NoBadNews desk · Published 2026-07-06 · Updated 2026-07-08

Is solar power the cheapest source of electricity?

Solar PV is now the cheapest source of electricity in history — its cost fell about 90% between 2010 and 2023 (from ~$0.46 to ~$0.044 per kWh), per the IEA and IRENA.

In 2010, solar cost 414% more than the cheapest new fossil-fuel power; by 2023 it was 56% cheaper. The world added a record 685 GW of renewable capacity in 2024, up 22% in a single year, with solar leading. (The 'cheapest in history' framing is for new projects with good financing and sunlight; solar is intermittent, so this is generation cost, not round-the-clock power.)

Source: IEA / IRENA · Image: AI illustration of real verified news (our method).

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