“And the cost of solar power is declining amazingly. Austin Energy signed a deal recently that a solar farm is selling at 5 cents a kilowatt-hour. A recent study by Lazard gave a cost of 5.6 cents for solar and 1.4 cents for wind power (with current subsidies) or 7.2 cents for solar and 3.7 cents for wind without subsidies. Natural gas came in at 6.1 cents and coal at 6.6 cents. The Solar Energy Industries Association claims that in the Southwest electricity contracts for solar energy have dropped 70 percent since 2008.”
The rapid advances in the use of solar and wind energy – more in Europe, but now also gaining momentum in the U.S.- has put electricity “storage” front and center. That is because there is no solar production at night and little on cloudy days, while strong winds are unpredictable in most locations. So, the best “model” for these renewable energy sources is to generate as much as possible at favorable times and to “store” excess production for periods when solar and wind energy supply are low.
And the cost of solar power is declining amazingly. Austin Energy signed a deal recently that a solar farm is selling at 5 cents a kilowatt-hour. A recent study by Lazard gave a cost of 5.6 cents for solar and 1.4 cents for wind power (with current subsidies) or 7.2 cents for solar and 3.7 cents for wind without subsidies. Natural gas came in at…
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