Explanation:

Recently, the International Renewable Energy Agency (IRENA) released the ‘Renewable Power Generation Costs in 2020’ report.
Key findings of the report

• The year 2020 (with 261 GW installed) was a record year for renewables deployment despite the Covid-19- pandemic. The addition was almost 50% higher than that made in 2019 and represented 82% of the global new power capacity.
• Replacing Coal with Renewables will save operators USD 32 billion a year and reduce annual carbon dioxide emissions by around three billion tonnes.
• Reducing Cost of Renewables: In about 10 years (2010-2020), the cost of power produced from commercial solar PVs fell by 85%, concentrating solar power (CSP) 68%, onshore wind 68% and offshore wind 48%.

Hence option 2nd is correct.