nuclear-news

Solar and wind keep getting cheaper, and crush coal, gas and nuclear on costs: Lazard

Latest LCOE report from Lazard confirms that wind and solar by far the cheapest of all energy sources, and cost of storage is falling too. The post Solar and wind keep getting cheaper, and crush coal, gas and nuclear on costs: Lazard appeared first on RenewEconomy.

Solar and wind keep getting cheaper, and crush coal, gas and nuclear on costs: Lazard — RenewEconomy   Giles Parkinson & Sophie Vorrath 1 November 2021  [GOOD GRAPHS]

As world leaders meet in Glasgow for critical climate talks, they have been given a stark reminder of the lowest cost alternatives to achieve the full decarbonised grid that science says is required of major economies by the middle of next decade, at the latest.

Investment bank Lazard has released the 15th edition of its highly regarded Levelised Cost of Energy Analysis and it reinforces what is pretty much already known: Wind and solar are by far the cheapest forms of electricity generation, storage costs are falling, and now hydrogen is part of the equation.

The best illustration of the cost difference between the various technologies is this following table, which shows the various energy supply sources and their sensitivity to the cost of capital.

All technologies are affected in some way, but wind and solar, which are easily the cheapest form of generation, actually increase their advantage as the cost of capital increases. In all cases, they are five times cheaper than nuclear. Even storage and network costs don’t come close to making up the difference…………………………….. https://reneweconomy.com.au/solar-and-wind-keep-getting-cheaper-and-crush-coal-gas-and-nuclear-on-costs-lazard/—

November 2, 2021 - Posted by Christina Macpherson | 2 WORLD, renewable