Renewables Save $.5B in Fuel Costs in 2022

A new report by the International Renewable Energy Agency (IRENA) finds that: “the renewable power added in 2022 reduced the fuel bill of the electricity sector worldwide. New capacity added since 2000 reduced the electricity sector fuel bill in 2022 by at least USD 520 billion.” IRENA’s Director-General, Francesco La Camera, said: “There is no time for a new energy system to evolve gradually as was the case for fossil fuels. In preparation of the COP28 in Dubai later this year, today’s report shows once again that with renewables, countries have the best climate solution at hand to raise ambition and take actions in a cost-competitive way.” To read the full report, click HERE