Data: WoodMac; Chart: Axios Visuals

Solar costs have dropped precipitously in the last decade across South Asia and the Pacific, new research from consultancy Wood Mackenzie shows.

Why it matters: It’s a sign of potential good news to come for efforts to address climate change. As nations in South Asia rapidly increase their electricity consumption, renewable energy will increasingly be able to help fill that demand in the coming decades.

  • The above chart shows the levelized cost of electricity, which consists of the cost of different power sources over the lifetime of a facility, including the cost of building it.

What they’re saying: India’s "high-quality solar resources, market scale and competition have pushed solar costs down to half the level seen in many other Asia Pacific countries," said WoodMac research director Alex Whitworth.

But, but, but: Coal is still king in the region. Wind and solar made up just 6% of the region’s electricity, a number Whitworth says will increase to a "much higher level in coming years."

  • The region will continue to build coal plants for the foreseeable future as it satisfies big power demand and balances out wind and solar resources that don’t always generate electricity, Whitworth says.

Go deeper: The companies going big on solar

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2 hours ago - World

Macron visits Beirut promising a "new political pact" for Lebanon

Macron visits the hard-hit Gemmayzeh neighborhood. Photo: AFP via Getty Images

French President Emmanuel Macron walked through the blast-damaged streets of Beirut on Thursday, swarmed by people chanting for the fall of Lebanon's government and pleading for international aid.

Why it matters: Lebanon is at a breaking point. Its economy was collapsing and its government hardly functioning — all before a massive explosion destroyed swathes of the capital city, including its vital port.

2 hours ago - Sports

The PGA Championship is golf's first major in over a year

Photo: Gary Kellner/PGA of America via Getty Images

The 2020 PGA Championship tees off Thursday at San Francisco's TPC Harding Park, which is hosting its first-ever major.

Why it matters: It's the first major in more than a year — and the first of seven majors in the next 12 months. Though there won't be any fans in attendance, the excitement is palpable.

July's jobs report could be an inflection point for the coronavirus recovery

Illustration: Sarah Grillo/Axios

Even if Friday's jobs report shows a big number, it is becoming clear hiring slowed and likely even reversed course in July and real-time indicators suggest the employment situation worsened into August.

Driving the news: Payroll processor ADP's monthly jobs report showed private companies added 167,000 jobs last month, well below the 1.2 million expected by economists and far below June's 4.8 million jobs added.