The True Cost of Renewable Energy: Less Than You Think - Energy Minute for September 26, 2013

Primary tabs

The True Cost of Renewable Energy: Less Than You Think - Energy Minute for September 26, 2013

tweet me:
What's the true cost of renewable #energy? Less than you think http://3bl.me/g8m8xz The latest Energy Minute via @3BLMedia

Multimedia from this Release

Thursday, September 26, 2013 - 4:00pm

CAMPAIGN: The CSR Minute

CONTENT: Press Release

One of the common arguments against renewable energy is that it costs too much. A recent comparison of wholesale electricity prices shows that coal-generated power costs three cents a kilowatt-hour, new natural gas plants produce at six cents, wind power costs eight cents, and solar, 13 cents. But a recent Wall Street Journal analysis raises two important points that are changing those figures. First, costs are falling, due to technological advances such as larger wind turbines and cheaper components for solar power arrays. The latest price data released by the Department of Energy finds that the price of wind-generated energy fell to four cents per kilowatt-hour, not counting the two-cent federal tax subsidy for that startup industry. Another report on the installation of solar power concludes that costs for small-scale solar residential arrays fell by 13 percent last year, and that utility-scale prices also dropped. Point two addresses the hidden costs of coal-fired and other fossil fuel-powered plants: air pollution, health impacts, and carbon emissions that impose costs on society, but which don’t show up in those producers’ expenses. When these hidden costs are figured in, the total cost of different power sources looks—different. At an existing coal-fired plant, the cost goes up by six cents per kilowatt-hour, making its true cost nine cents. But the true cost of wind and solar don’t go up, because they don’t emit carbon dioxide and don’t cause air pollution-related health problems. Doing the math on renewable energy adds up to lower costs and higher environmental and social gains. I’m John Howell for 3BL Media.

For more on this and other stories, go to 3blmedia.com

Video Source: The True Cost of Renewable Energy: Less Than You Think

Keywords: 3bl Media | Energy | Energy Minute | Wall Street Journal | cost | renewable energy

CAMPAIGN: The CSR Minute

CONTENT: Press Release

parse.ly