(Phys.org)—A new study has found that in Australia electricity
from new wind farms will be cheaper than that from new coal or
gas power plants, which overturns the common presumption that
renewables are more expensive than coal or gas. The analysis of
Australia's energy options was carried out by a Sydney team
belonging to the research company Bloomberg New Energy Finance
(BNEF). The team modeled the prices of electricity from a
variety of sources, and found electricity from a new wind farm
could be supplied at $80 (AUD) per MWh, while electricity
supplied by a new gas power plant would cost $116, and a new
coal plant $143. These prices included the Labor government's
carbon tax, but wind was cheaper even without carbon pricing
being factored in. The analysis also predicted that large solar
photovoltaic installations will be cheaper than coal or gas by
2020, and solar thermal and biomass systems will be at least
competitive by 2030. The costs of renewables such as wind and
solar are dropping but the costs of