Studies Show That Renewable Sources, Such as Solar and Wind Energy, Are Cheaper Than Previously Thought

Written by Roberta Souza

Published on 03/09/2020 at 10:14

Fontes de energia renovável – energia eólica e energia solar

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The British Government Reviewed Numbers and Concluded That the Price of Energy from Renewable Resources, Such as Solar and Wind Power, Is Nearly 50% Lower Than the Originally Calculated Price

Energy from renewable sources is already very competitive in the market. In fact, this year is considered by the sector a milestone in price shifts, meaning that clean energy generation has become equal to or cheaper than energy from fossil fuels. The UK government issued a report that offers a new perspective on this account. By considering the “normalized” cost of electricity, the price of solar and wind energy is much cheaper than previously thought, over the lifespan of a power plant.

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The research report was conducted by the Department for Business, Energy and Industrial Strategy (BEIS), which regularly makes forecasts on the subject. The cost of renewable energy has dropped dramatically, 47% less compared to four years ago. This means that, by 2025, wind farms or solar plants will be able to generate electricity at half the cost of natural gas thermal energy.

To reach this conclusion, the British government used an equation to “normalize” energy costs, taking into account the average value per megawatt over the life of the project. This way, different resources can be compared, such as renewable resources, natural gas resources, and nuclear energy resources.

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Studies Show That Renewable Sources, Such as Solar and Wind Energy, Are Cheaper Than Previously Thought

The British Government Reviewed Numbers and Concluded That the Price of Energy from Renewable Resources, Such as Solar and Wind Power, Is Nearly 50% Lower Than the Originally Calculated Price

See Also Other News:

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Studies Show That Renewable Sources, Such as Solar and Wind Energy, Are Cheaper Than Previously Thought

The British Government Reviewed Numbers and Concluded That the Price of Energy from Renewable Resources, Such as Solar and Wind Power, Is Nearly 50% Lower Than the Originally Calculated Price

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With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

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A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

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