Solar Power Is Cheaper, but the World Is Still Running on Fossil Fuels

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Solar Power Is Cheaper, but the World Is Still Running on Fossil Fuels

Even without subsidies, new wind and solar power plants are usually cheaper than new coal, nuclear, or natural gas power plants. In fact, they are often not only cheaper, but substantially so. According to Lazard, levelized cost of energy (LCOE) estimates based on averages for the U.S. as a whole show that utility-scale renewables are far less expensive than conventional power sources — even when historical subsidies for conventional power sources, or social costs such as healthcare for coal-related health problems, aren’t taken into account.

Solar is even cheaper outside the U.S.; its costs are dropping faster in India, China, UAE, Saudi Arabia, Australia, and elsewhere.

Read more at Futurism

2017-05-15T16:56:13+00:00 Tags: |