Renewables cheaper than coal in Australia — a preview of things to come

Grist 7 February 2013.

I’m morbidly fascinated by the way conventional wisdom lags behind evidence, like the CW that renewable energy is expensive and fossil fuels cheap. In fact, there is a tectonic shift underway. Renewable energy prices are declining as technology improves, economies of scale kick in, financing mechanisms mature, and public policy begins to take some (inadequate) account of the negative externalities of fossil fuels.

Meanwhile, the cost of coal-fired electricity is heading up. It’s getting harder to finance coal plants in the face of competition from clean(er) energy, activist opposition, and the inevitability of some kind of carbon policy. Construction costs are rising. Transportation costs are rising. It’s getting harder to reach the coal that’s left in the ground. Etc…

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