New solar and wind generates cheapest power in most of the world

An analysis from BloombergNEF projects that coal and gas-fired electricity will become more expensive than wind and solar farms within a five-year period.

Photo: Lars Skaaning/POLARCHIVE

In the future, it will be cheaper to establish new renewable energy facilities than operating existing coal and gas-fired power plants, shows an analysis from Bloomberg New Energy Finance, which forecasts a clear change in energy source selection within the coming five years – and BNEF isn't alone is reaching that conclusion.

According to a report from the International Renewable Energy Agency (IRENA), establishing new green power projects will become cheaper than the operating costs of running an increasing group of existing coal-fired power plants.

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