Solar Power Is Cheaper though the World Still Runs on Fossil Fuels
Energy Solar Power Is Cheaper, but the World Is Still Running on Fossil Fuels The Price Of Power Even without subsidies, new wind and solar power plants are usually cheaper than new coal, nuclear, or natural gas power plants. In fact, they are often not only cheaper, but substantially so . According to Lazard , levelized cost of energy (LCOE) estimates based on averages for the U.S. as a whole show that utility-scale renewables are far less expensive than conventional power sources — even when historical subsidies for conventional power sources, or social costs such as healthcare for coal-related health problems, aren’t taken into account. Solar is even cheaper outside the U.S. ; its costs are dropping faster in India , China, UAE, Saudi Arabia, Australia, and elsewhere. The lowest costs reported by Lazar are far higher than those recorded around the world. However, even Lazard — with its often conservative measures — agrees that in many areas of...