Price of Renewables Approaching Fossil Fuels, Nuclear
The International Energy Agency says that the cost of solar and wind power and other renewables has dropped during the past half-decade and significantly are closer than ever to meeting the price points of fossil fuels and nuclear power, according to BloombergBusiness.
The median cost for baseload power from natural gas, coal and atomic power plants is about $100 per megawatt. That compares to $200 for solar. That’s double – but the solar number has dropped from $500 in 2000. The costs – particularly for solar – vary greatly due to locale.
The median cost of power generation for gas and coal rose during the five year period during which renewable shrunk. Nuclear power remained consistent during the period.
Clean Technica cites a study by Citigroup that says on an apples to apples basis renewables already have bypassed fossil fuels in value and are a “benefit rather than a cost to society.”
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