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Solar Is Now 33% Cheaper Than Gas Power in US, Guggenheim Says (web.archive.org)

submitted 1 year ago* (last edited 1 year ago) by BrooklynMan@lemmy.ml to c/environment@beehaw.org

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Natural gas’s dominance as power-plant fuel in the US is fading fast as the cost of electricity generated by wind farms and solar projects tumbles, according to Guggenheim Securities.

Utility-scale solar is now about a third cheaper than gas-fired power, while onshore wind is about 44% less expensive, Guggenheim analysts led by Shahriar Pourreza said Monday in a note to clients.

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[–] Daedalus@beehaw.org 3 points 1 year ago

I think we're soon going to get to the point when anything other than solar/wind gets rejected on the financial basis, except cases not covered by solar/wind (still need some baseload).

As solar gets cheaper, even baseload/heating should be viable - there are many energy storage methods that are 'inefficient' but scale better than li-ion - thermal storage, various 'heavy' battery chemistries, even making hydrogen or synfuels - you can have 50% energy loss if it costs 50% of the alternatives and you'd be unable to use it on peak sunlight anyway.