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New IEA Report on Renewable Energy Costs & Policy (IEA Nails It!)

Seeded on Thu Nov 24, 2011 9:41 AM EST
Read ArticleArticle Source: CleanTechnica - By Zachary Shahan
technology, renewable-energy, iea, cost-competitive, fossil-fuel-friendly
Seeded by Par4TheCourse
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The International Energy Agency (IEA), traditionally a very fossil-fuel-friendly international agency, reported today that renewable energy is becoming cost-competitive (and should receive subsidies to account for its environmental, energy security, and health benefits).

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Par4TheCourse

If you look at the full costs of each energy source (that means adding in health costs, energy security costs, and environmental costs) solar, wind, and geothermal are already equal to or cheaper than fossil fuels. What’s the difference between a dollar you spend at the hospital and a dollar you spend on your electricity? Nothing much, except who’s receiving that dollar and what you are going through (i.e. what health predicament you have or don’t have). IEA gets this, but could have done a better job of spelling that out.

Additionally, not even taking those factors into account, if you look at the rising costs of coal and nuclear, the falling costs of solar, and the time it takes to put up a coal or nuclear power plant, solar is already cheaper by many insider estimates.

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Reply#1 - Thu Nov 24, 2011 9:42 AM EST
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