New Energy Price Knocks Coal, Nuclear Out Of The Market
New study reaches a stunning conclusion about the cost of solar and wind energy; Building new renewables is now cheaper than just running old coal and nuclear plants.
Joe Romm, November 20, 2017 (ThinkProgress)
“In one of the fastest and most astonishing turnarounds in the history of energy, building and running new renewable energy is now cheaper than just running existing coal and nuclear plants in many areas…[According to Lazard’s Levelized Cost of Energy Analysis (LCOE) 11.0, the cost for utility scale solar and wind power in North America] dropped 6 percent last year, while the price for coal remained flat and the cost of nuclear soared by approximately] 35 percent versus prior estimates…[That is driven by increased capital costs at various nuclear facilities currently in development and prices nuclear power] out of the market for new power…[It is more expensive to operate conventional energy sources in the developing world than it is in the United States. So the advantage renewables have over conventional sources is even larger in the rapidly growing electricity markets like India and China…The lifecycle cost of electricity from new nuclear plants is now $148 per megawatt-hour, or 14.8 cents per kilowatt-hour, while it is 5 c/kwh for utility scale solar and 4.5 c/kwh for wind. By comparison, the average price for electricity in United States is 11 cents per kWh…” click here for more