Multiple studies are now reporting that wind and solar power are the cheapest way to make electricity in a growing number of places around the world. A thorough analysis of the levelized cost of energy – which considers every cost component from capital expenditures to operating and maintenance costs over a lifetime – shows that solar and wind power are winning the day.
There are many good reasons why we should be making the transition from fossil fuel energy sources but the one that is likely to be the most persuasive is strictly economic. It has long been said that the renewable energy future will truly arrive when installing new solar panels is cheaper than a comparable investment in coal, natural gas, or other options.
The Interior Department has recently defined a “Wind Energy Area”, consisting of about 81,000 acres, located 11 miles south of Long Island. The designation is a first step to opening up the acreage for large-scale, competitive wind energy leasing through the Bureau of Ocean Energy Management.
A while back we talked about the carbon tax in British Columbia and how it resulted in a dramatic reduction in carbon fuel use without any harm to the local economy. Many economists believe that carbon taxes are one of the best ways to promote lower greenhouse gas emissions.
