Happy Thanksgiving NYER Readers! We are very grateful for your interest and support.
Take a look at this recent article from the New York Times that provides some encouraging news about renewable energy. The dropping cost of renewable energy sources like wind and solar could support efforts to lower carbon emissions across the U.S.
Times reporter Diane Cardwell notes:
“The cost of providing electricity from wind and solar power plants has plummeted over the last five years, so much so that in some markets renewable generation is now cheaper than coal or natural gas.
Utility executives say the trend has accelerated this year, with several companies signing contracts, known as power purchase agreements, for solar or wind at prices below that of natural gas, especially in the Great Plains and Southwest, where wind and sunlight are abundant.
Those prices were made possible by generous subsidies that could soon diminish or expire, but recent analyses show that even without those subsidies, alternative energies can often compete with traditional sources.”
But, as Cardwell reports, key challenges remain. Renewable energy still does not have the level of on-demand availability provided by fossil fuel sources. Another issue? Creating real parity -in terms of tax breaks and other government incentives- between renewable and fossil fuel energy sources.