From the Financial Times : Large wind farms and solar plants are now cost-competitive with gas-fired power in many parts of the US even without subsidy, according to Lazard, raising the prospect of a fundamental shift in the country’s energy market.
Costs have fallen and efficiency has risen for solar panels and wind turbines, the investment bank found, to the point that in areas of strong wind or sunshine they can provide electricity more cheaply than fossil fuel plants.
The falling cost of renewable power will encourage greater investment by generators and utilities, and could help ease public concerns about the cost of federal and state regulations intended to support alternative energy and cut carbon dioxide emissions.
George Bilicic, global head of power, energy & infrastructure, Lazard, said: “We used to say some day solar and wind power would be competitive with conventional generation. Well, now it is some day.”
Categories: Economic Indicators