12/23/2024
As renewable energy expands and the technologies improve, the cost of electricity from renewable energy sources has begun to beat out the costs of that from fossil fuel sources like oil, coal, and natural gas.
This misconception that renewable electricity is more expensive mainly derives from the fact that the initial buildout of utility-scale clean energy plants typically have a higher cost. But the clean electricity is now at a lower cost and is expected to continue to drop well below fossil-fuel energy costs.
Sources
IRENA: https://bit.ly/49PPlAy
Bloomberg: https://bit.ly/4fsHTwq