NewEnergyNews More: New Energy Beating Old Energy In The Market, Part 2

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  • Tuesday, December 4, 2018

    New Energy Beating Old Energy In The Market, Part 2

    Plunging Prices Mean Building New Renewable Energy Is Cheaper Than Running Existing Coal

    Megan Mahajan, December 3, 2018 (Forbes)

    “…Lazard’s annual Levelized Cost of Energy (LCOE) analysis reports solar photovoltaic (PV) and wind costs have dropped an extraordinary 88% and 69% since 2009, respectively. Meanwhile, coal and nuclear costs have increased by 9% and 23%, respectively…[Even without current subsidies, New Energy] costs can be considerably lower than the marginal cost of conventional energy technologies…[C]ustomers save money when utilities replace existing coal with wind or solar…[and] utility solar PV costs will decline 60% by 2050 under mid-level forecasts assuming continued industry growth, and technological breakthroughs [cutting] costs up to 80% by 2050…[O]nshore wind analysis forecasts a 30% cost decline by 2050, which could be up to 58%-64% with breakthroughs…

    This year’s LCOE analysis reported new onshore wind costs $29-$56 per megawatt hour (MWh) to build without subsidies and $14-$47/MWh to build with subsidies. New utility solar PV costs $36-$44/MWh to build without subsidies and $32-$41/MWh to build with subsidies. Comparatively, marginal costs—the cost to operate existing plants—are $27-$45/MWh for coal and $24-$31/MWh for nuclear…[V]alues would be even better if Lazard accounted for external costs from climate change like property damage from extreme weather disasters or human lives lost to air pollution…” click here for more


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