Solar, Wind Auctions Picking Up as Countries Push to Cut Costs

A growing number of countries are choosing to auction renewable-energy projects in a drive to generate electricity at lower costs, according to the International Renewable Energy Agency.

Fifty countries held auctions in 2017 and 2018 to secure electricity through renewable technologies, with half of these nations doing so for the first time. The auctions for an estimated 97.5 gigawatts of power went mostly to solar photovoltaic projects, for 55% of the total, and onshore wind, for 32%, the Abu Dhabi-based agency said Tuesday in a report.

“The use of auctions continues to rise, owing chiefly to their ability to ...