New Solar, Wind Now Cheaper than 80% of U.S. Coal Plants
- May 12, 2021 3:15 am GMTMay 13, 2021 7:07 pm GMT
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Renewable energy prices have fallen so far in the United States that it’s usually now cheaper for operators to replace existing coal capacity with new solar and wind investments, rather than continuing to run the coal plants, according to new analysis released last week.
“About 80% of U.S. coal plants are now more expensive to keep running than to swap out for new wind and solar capacity,” Bloomberg Green reports, citing the study by the non-partisan Energy Innovation think tank. “Prices for new wind and solar have dropped so quickly in recent years that they were already cheaper than new coal,” but “this report shows that the price differential holds true for a growing amount of existing coal, as well.”