Solar & Wind Almost Competitive with Fossil Fuel Electricity
The price for solar & wind is now almost competitive with fossil fuel electricity in most locations around the country. Current federal and state incentives are being reduced, and many will expire soon. While solar will continue to be cost-competitive with traditional electricity even after the tax incentives change in 2016, those who take action soon will gain the best returns — and largest savings.
According to a study by the investment banking firm Lazard, the cost of utility-scale solar energy is as low as 5.6 cents a kilowatt-hour, and wind is as low as 1.4 cents. In comparison, natural gas comes at 6.1 cents a kilowatt-hour on the low end and coal at 6.6 cents. Without subsidies, the firm’s analysis shows, solar costs about 7.2 cents a kilowatt-hour at the low end, with wind at 3.7 cents.