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Renewable Energy Cost has Reduced 50 Percent Since 2008

 

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A recent anlysis by Lazard Freres  & C0 - global advisors and asset managers  -has found that the Capital Cost per KW for Renewable Energy sources has fallen by more than 50% in the last four years.

Thus renewable energy continues to become more cost-competitive with traditional fossil fuels.  As more alternative energy generation comes on line almost every day, the anlysis reveals how cheap it has become and how fast renewable energy sources are closing the gap on fossil fuels.

Using the small-scale distributed generation, the Busbar cost for renewable energy sources will soon be equal to and below that of traditional fossil fuel power generation.

This has seen the US EPA issue new, stricter guidleines this week, limiting the development of new fossil fuel power generation sites and increasing the controls on emissions so that they have to satisfy even lower levels in order to be approved.

With Barack Obama meeeting the Indian Prime Minister this week it has been noted that development of renewable energy sources for both nations will be high on the agenda. (Particularly as India has been having some difficulties funding utility scale solar projects lately, but prospects for these now looking better).

Financial incentives (US Federal tax Subsidies) are helping push renewable energy sources into this more competitive position and renewable energy use is becoming increasingly prevalent.

Cheers - Allan Barker

September 21st 2013

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