A New Manhattan Project Saturday, 09 February 2013 10:40 By Thom Hartmann, The Daily Take | Op-Ed
Something interesting is happening in Australia.
A new study by the research firm Bloomberg New Energy Finance has found that unsubsidized renewable energy is now cheaper than fossil fuels like coal and gas.
In fact, itís a lot cheaper.
Data shows that wind farms in Australia can produce energy at AU$80/MWh. Meanwhile, coal plants are producing energy at AU$143/MWh and gas at AU$116/MWh.
Unlike the United States, where energy companies can pollute and have the costs (from illness to environmental degradation) picked up by the taxpayers, Australia has a carbon tax, which partially explains why renewables have a price advantage. But the data shows that even without the cost of carbon tax factored in; wind energy is still 14-cents cheaper than coal and 18-cents cheaper than gas. ....................(more)