Wind and Solar Costs Keep Falling, Squeezing Nuke, Coal Plants
- Renewables have become the cheapest sources of power: Lazard
- Gas plants are best back ups, while nukes and coal struggle
Photographer: Chris Ratcliffe/Bloomberg
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Wind and solar have become the cheapest sources of power, and natural gas-fired plants are the best option to back them up, according to Lazard Ltd.
The levelized cost of energy from large solar installations has fallen to as low as $36 per megawatt-hour, while wind is as cheap as $29, Lazard said in a report Thursday. That’s cheaper than the most efficient gas plants, coal plants or nuclear reactors.