<
https://reneweconomy.com.au/wind-and-solar-power-half-the-cost-of-coal-and-gas-one-third-the-cost-of-nuclear-says-lazard/>
"New data out of the US has confirmed that large-scale wind and solar are
significantly cheaper sources of electricity generation than coal and gas – and
even undercut fossil fuels on price with the addition of energy storage, in
some cases.
In the 17th edition of its highly regarded
Levelised Cost of Energy+ (LCOE+)
Analysis, US investment bank Lazard compares the cost of generating
electricity from renewable technologies to conventional technologies, across
various scenarios and sensitivities.
The Lazard findings are broadly similar to those of the
GenCost report
prepared by the CSIRO and the Australian Energy Market Operator, which have
come under attack from the federal Opposition and nuclear boosters.
But while Lazard looks at the global average, the CSIRO is focused on
Australia, which has some of the best wind and solar resources in the world.
In 2024, Lazard finds onshore wind to supply the cheapest form of energy, with
an LCOE ranging across the globe between $US27 per megawatt-hour and $US73/MWh,
or an average of $US50/MWh, depending on local conditions.
With the added costs of energy storage, the LCOE for wind rises to
$US45-$133/MWh, which is still much cheaper than coal ($69-$168/MWh) and
competitive with combined cycle gas ($45-$108/MWh).
Utility-scale solar, meanwhile, is valued at more than half the cost of coal,
at an LCOE of between $29-$92/MWh, average $61/MWh. Large-scale solar with
storage ranges in LCOE from between $60/MWh and $210/MWh."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
