Wind and Solar Energy Are Cheaper Than Electricity from Fossil-Fuel Plants

image via New Scientist

June 17, 2025, 4:00 PM

Lazard's report reveals that renewable energy is the most cost-competitive form of new power generation, even without subsidies, making it a key player in the increasing demand for electricity. However, existing natural gas and even coal plants can be economically attractive due to low gas prices and potentially decreased regulation. The report highlights that wind and solar with storage are competitive with gas for additional power needs, and this is independent of subsidies. The report also includes a calculation for the cost of providing backup power to wind, solar and short duration storage batteries.

Read original article