28 Feb '12, 1pm

Renewables Now Cheaper than Coal in Michigan, Could Be $5-Billion Industry

Renewables Now Cheaper than Coal in Michigan, Could Be $5-Billion Industry

New renewable energy generation is now cheaper than new coal generation in Michigan, and could be a $5-billion annual industry for the economically hard-hit state. So say two recent reports analyzing the state’s progress toward renewable energy goals. While both findings are impressive, new renewables falling below the cost of new coal is a more important long-term trend. The analysis comes from a Michigan Public Service Commission (PSC) report detailing implementation costs of meeting the state’s 10 percent renewable energy standard. Renewables 10% Cheaper Than Coal New wind, biomass, landfill gas, and hydroelectric generation all cost less than new advanced-supercritical pulverized coal plants with a 40-year life cycle, according to the report. PSC staff estimated in 2009 that electricity generated from new coal plants would cost $133 per megawatt-hour (MWh), and reitera...

Full article: http://cleantechnica.com/2012/02/28/renewables-now-cheape...

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