Renewable energy becoming more cost-competitive with fossil fuels isn’t news – as technology improves and more clean power generation comes online, electricity without emissions gets cheaper. But one new analysis reveals just how shockingly cheap it’s gotten.
The levelized cost of electricity (LCOE) from wind and solar sources in America has fallen by more than 50% over the past four years, according to Lazard’s Levelized Cost of Energy Analysis 7.0, recently released by global financial advisor and asset manager firm Lazard Freres & Co.
Lazard’s analysis compared the LCOE for various renewable energy technologies to fossil fuels on a cost per megawatt hour (MWh) basis, including factors like US federal tax subsidies, fuel costs, geography, and capital costs.
via Lazard: 50% reduction in cost of renewable energy since 2008 : Renew Economy.
Categories: Electricity, Energy
Leave a Reply