Generating electricity from solar power is cheaper than doing so through coal-fired power plants, a new article published in the journal Energy and Environmental Materials states.
According to Ravi Silva, Director of the Advanced Technology Institute at the University of Surrey and author of the paper, solar energy typically has a cost comparative with or lower than other energy sources, including coal, nuclear and offshore wind, even as far north as Britain. In sunnier countries like Spain, the economic case for solar is even stronger.
To back these assertions, Silva cites data from the International Renewable Energy Agency, which estimates that 61% of coal capacity in the United States costs more to operate than building new renewable energy plants. Retiring these coal plants and replacing them with renewables would save $5.6 billion in costs and 332 million tons of CO2 per year.
IRENA’s figures also show that in India, 70% of coal capacity is more expensive to run than building new renewables while in Germany it is 100%.
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