The world’s best solar power schemes now offer the “cheapest electricity in history” with the technology cheaper than coal and gas in most major countries, according to the latest report from the International Energy Agency (IEA). Reflecting the impact of coronavirus and the uncertainty of global energy use over the next two decades, the report offers four “pathways” to 2040, all with a major rise in renewables. The main scenario shows 43% more solar output by 2040 than it expected in 2018, partly due to detailed new analysis showing that solar power is 20-50% cheaper than thought. Despite a rapid rise for renewables and a “structural” decline for coal, the IEA says it is too soon to declare a peak in global oil use, unless there is stronger climate action.

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