Israeli Energy Minister Yuval Steinitz announced a new plan on Monday to increase solar power capacity by about 15 GW to help the country’s renewable energy target increase from 17% to 30% by 2030. He predicts that by 2030, renewable energy will be able to meet about 80% of the country’s electricity needs, while natural gas will cover the rest, and coal will be gradually phased out. Steinitz added that this change will be driven by the private sector, and it is expected that the investment in clean energy will reach about 80 billion Israeli new shekels, or about 23 billion US dollars.
On June 2, the International Renewable Energy Agency (IRENA) released the “Renewable Energy Generation Costs for 2019”. According to IRENA’s cost data in 2019, the cost of solar photovoltaic power generation, onshore and offshore wind power has dropped by 82%, 39% and 29%, respectively since 2010. In 2019, 56% of all newly commissioned grid-connected large-scale renewable energy power generation capacity is lower than the cheapest fossil fuel power generation.
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