Research by the New York Times has suggested a new era in energy has started to dawn for energy in the United States as renewables are finally equaling conventional fossil fuels in price.
Following a trend over the last five years, the last twelve months have seen the cost of providing electricity from wind and solar plummet – so much so that in some markets renewables are now cheaper than more conventional sources such as oil or gas.
The harbinger of these lower costs has been new power purchase agreements being signed arose the country, but particularly in central and southwestern states like Texas and Oklahoma. This April saw a deal for 20 years of output from a solar farm at less than 5 cents a kilowatt-hour in Austin, whilst the Grand River Dam Authority in Oklahoma saw a similarly competitive deal arranged with a wind farm due online next year.
Renewable Energy Starts to Win Price War