A new report issued in Colorado this week have proven that renewables costs are not only falling, they are falling faster than anyone predicted. And they are falling far below the prices for coal.
The Public Service Company of Colorado published a collection of projects and bids from developers who are all excited to build renewable energy at very, very low prices. Based on the results, creating new renewable projects – coupled with storage – is a cheaper option than using energy from existing coal plants in the state. In fact, building new wind energy coupled with storage is a cheaper option than using energy from all of the existing local coal plants, and using solar coupled with storage is cheaper than 75 percent of the coal plans.
Renewable energy prices continue to surpass industry expectations. To learn more about how renewable costs stack up to coal, visit: https://www.vox.com/energy-and-environment/2018/1/16/16895594/colorado-renewable-energy-future