"LONDON - Plunging costs of renewables mark a turning point in a global transition to low-carbon energy, with new solar or wind farms increasingly cheaper to build than running existing coal plants, according to a report published on Tuesday.

The International Renewable Energy Agency (IRENA) said the attractive prices of renewables relative to fossil fuel power generation could help governments embrace green economic recoveries from the shock of the coronavirus pandemic.

“We have reached an important turning point in the energy transition,” Francesco La Camera, director-general of IRENA, said in a statement."

Matthew Green reports for Reuters June 2, 2020. [2]