24 Nov '14, 8pm

Solar and Wind Energy are Finally Cheaper than Fossil Fuels in the United States

The New York Times reports the closing of the gap in costs has particularly accelerated in 2014, according to utility executives. In the Great Plains and Southwest regions, companies are signing power purchase agreements for renewables at rates below that of natural gas. While subsidies are still contributing to reduced prices for renewables, in September, 2014, financial advisory firm Lazard released figures demonstrating that wind and commercial solar PVs could still be competitive with gas and coal without the subsidies. Lazard has been issuing comparisons of levelized costs of various energy sources since 2008. Jonathon Mir, a managing director at the firm told the NYT, “It is really quite notable, when compared to where we were just five years ago, to see the decline in the cost of these [renewable] technologies.”

Full article: http://inhabitat.com/solar-and-wind-energy-are-finally-ch...

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