Renewables can now trounce fossil fuels such as coal and gas for electricity generation - and without subsidies.
Bloomberg New Energy Finance’s (BNEF) Sydney analysis team has determined electricity can be supplied from a new wind farm at a cost of $80/MWh; far cheaper than the $143/MWh from a new coal plant or $116/MWh from a new baseload gas plant, including the cost of emissions under Australia’s carbon pricing scheme.
Even without the carbon price, wind still beats new coal by 14 per cent and new gas by 18 per cent.
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