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Renewable energy makes good economic sense forAustralia

Renewable energy will only get cheaper: study, Australian Broadcasting Corporation, By Michael Edwards    May 26, 2011  A new study has found the future prices of wind, thermal and solar power will only keep falling as more alternative power sources are switched into the energy grid. Researchers say it proves the widespread adoption of renewable energy sources makes good economic sense.

The study was commissioned by the Government’s chief climate change adviser, Ross Garnaut, and conducted by the University of Melbourne’s Energy Research Institute.

“We found that the current cost of technology such as solar and wind today are already cheaper than the data that is currently used by Australian Government and industry planning,” said one of the study’s lead researchers Patrick Hearps.

“Not only that, the cost of solar and wind are expected to drop quite significantly over the next decade.”

Mr Hearps says the study proves the economics of renewable energies are viable.

“It’s expected that, especially in the case of solar technologies, that they’ll become very close to competitive with fossil fuels over the next five to 10 years,” he said….

Renewable energy will only get cheaper: study – ABC News (Australian Broadcasting Corporation)

May 27, 2011 - Posted by Christina Macpherson | AUSTRALIA, renewable