New solar and onshore wind power plants have reached parity with average wholesale prices in California, China and parts of Europe says the latest report from business intelligence company BloombergNEF (https://about.bnef.com/).
Tifenn Brandily, an associate in BNEF’s energy economics team and the report’s author says the report (https://about.bnef.com/new-energy-outlook/) concerns the electricity generated by new solar and wind projects becoming cheaper than that produced by new coal and gas plants.
The report continues that renewable energy has reached parity with electricity grids meaning alternative energy sources can generate power less than or equal to the price of power from electricity grids. Also clean energy is cheaper than that produced by existing thermal plants.
The renewable technologies are winning the race to be the cheapest sources of new energies for two-thirds of the world’s population already.
Caplor has seen that from an industry that didn’t really exist 10 years ago, now over 30% of the electricity supply is from renewable energies mainly Solar PV, wind farm but also including thermal, air source and ground source heat pumps.
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