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Building New Renewables Is Cheaper Than Burning Fossil Fuels

  • Rising commodity prices limiting green power’s cost decline
  • New wind or solar farms are often cheaper than existing coal
Wind Turbine And Solar Panels
Photographer: Mikael Sjoberg/Bloomberg
Updated on

It’s now cheaper to build and operate new large-scale wind or solar plants in nearly half the world than it would be to run an existing coal or gas-fired power plant.

That’s the latest analysis from BloombergNEF, which sees that even with the risk of rising commodity prices, a new solar park or wind farm is still competitive with existing coal or gas plants in countries that represent 46% of the world’s population.