Electricity from all forms of renewables will be consistently cheaper than fossil fuels by 2020

Today, fossil-fuel power costs between $0.05 to $0.17 per kWh. The global-weighted average cost of several renewable energy sources are comparable to this: hydropower ($0.05 per kWh), onshore wind ($0.06 per kWh), bioenergy and geothermal ($0.07 per kWh), and solar photovoltaics ($0.10 per kWh).

Offshore wind and solar thermal power aren’t yet competitive with fossil fuels, but that should change by 2020, Irena predicts.