Solar and wind energy with battery storage are becoming more cost-competitive compared to coal and gas, according to a report by the International Renewable Energy Agency (IRENA). The firm levelised costs for electricity from solar with battery stored range from $54-$82 per megawatt hour (MWh) in regions with high solar irradiance, compared to more than $100/MWh in 2020. This is in stark contrast to the cost of new coal in China and new gas capacity globally. Since 2010, total installed costs for solar PV and onshore wind have decreased significantly. Further levelised cost reductions are expected by 2030 and around 40% by 2035.