30 May '11, 12pm

Renewable energy could cost us less money sooner than predicted

Renewable energy could cost us less money sooner than predicted

Researchers at the University of Melbourne's Energy Research Institute have just released a new report which outlines their findings that the future price of solar, thermal and wind power will continue to decrease sooner than has been predicted. This will happen as an increasing number of alternative energy sources are connected into the national energy grid. The main objective of the study, commissioned by the Australian Government's chief climate change advisor Ross Garnaut, was to review the current renewable energy cost outlooks and compare these with the outlooks used by the Australian energy industry. The team assessed recent developments in renewable energy generation technology, based on a range of analyses and reports from international sources and concluded that these technologies are, in fact, less expensive than the figures the energy industry is using. For exa...

Full article: http://www.earthtimes.org/energy/renewable-energy-cost/934/

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