Renewables now less expensive than natural gas generation, new report says

Independent nonprofit Rocky Mountain Institute (RMI) recently released a report showing portfolios of clean energy resources “can provide the same energy and reliability services as traditional gas power plants” at a lower cost, nawindpower.com reports. The report, The Growing Market for Clean Energy Portfolios, states the “economics guiding U.S. investments in electricity generation have reached a historic tipping point: Combinations of solar, wind, storage, efficiency and demand response are now less expensive than most proposed gas power plant projects,” according to the article. The report finds “over 95% of gas use in proposed gas-fired power plants across much of the Eastern U.S. could be economically offset by clean energy by 2035,” potentially leading to natural gas plant closures just as cheaper natural gas has led to the retirement of coal-fired plants in recent years. For more, read the full article.

Environmental, Renewable Energy