Solar Power and Wind Energy to be Cost Competitive by 2025

Author:REVE     Source:REVE     Click:347     Publish time:2013/9/2 11:03:06

Wind power and solar energy electricity will become cost competitive, without the help of federal subsidies, by 2025, according to a new report from the National Renewable Energy Laboratory.

The National Renewable Energy Laboratory (NERL) has released a study, called ‘Beyond Renewable Portfolio Standards: An Assessment of Regional Supply and Demand Conditions Affecting the Future of Renewable Energy in the West’, which predicts that wind energy and solar power electricity generation installations will become cost-competitive, without the help of federal subsidies, by 2025.

Several states in the western US have set up standard requirements needed for developing a renewable portfolio, which will be the primary drivers of any large scale expansions in wind, solar, and geothermal power generation capacity.

David Hurlbut, the senior analyst at the NREL, said that “the electric generation portfolio of the future could be both cost effective and diverse. If renewable and natural gas cost about the same per kilowatt-hour delivered, then value to customers becomes a matter of finding the right mix.

Renewable energy development, to date, has mostly been in response to state mandates. What this study does is look at where the most cost-effective yet untapped resources are likely to be when the last of these mandates culminates in 2025, and what it might cost to connect them to the best-matched population centers.”

The study found that geothermal energy will likely remain more expensive than other forms of electricity generation per megawatt hour, but that solar and wind will become cost competitive once all renewable energy mandates are in place.


Keywords:Solar Power and Wind Energy to be Cost Competitive by 2025
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