Costs

Clean and renewable energy is already cost competitive with conventional energy resources in many markets. In just the last two years, prices for wind, solar and other technologies have fallen significantly, and biofuels have helped lower gas prices. Renewables are beginning to match or beat fossil-fueled electricity on price, and with continued growth, deployment and innovation, renewables are becoming more widespread every day.

Key Stats

  • $0.05: Price that Austin Energy will pay per kW/h of solar energy in a recently signed 25 year PPA. (Source: PV Magazine, http://bit.ly/1qPbio9)
  • 15%: Decrease in the average cost to install a solar energy system since the end of 2012. (Source: SEIA, http://bit.ly/1dqMFsh)
  • 43%: The decrease in the cost of wind energy over the last 4 years. (Source: American Wind Energy Association, http://bit.ly/1in4SrC)
  • 565 MW: Amount of renewable electricity recently purchased by Massachusetts’ three largest utilities at prices cheaper than natural gas and coal. (Source: The Boston Globe, http://b.globe.com/16SwUXv)
  • 99%: The decrease in the cost of photovoltaic solar cells since 1973. (Source: Bloomberg New Energy Finance, http://bit.ly/1aD3gbf)
  • $1.09: The amount of money saved at the gas pump, per gallon, as a result of U.S. bio-fuel production. (Source: Center for Agricultural and Rural Development, http://bit.ly/Kdoudi)
  • $1 billion: The energy efficiency savings of National Grid Massachusetts customers (Source: The Republican, http://bit.ly/14xRgGC)
  • 60%: The decrease in the price of solar panels from 2011 to 2013 (Source: Clean Technica, http://bit.ly/15FeLwl)
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Latest News

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Resources

Rhode Island Renewable Portfolio Standard Fact Sheet

— American Council On Renewable Energy, February 2014, http://bit.ly/1dqfXmt

The Social Cost of Carbon: Implications for Modernizing Our Electricity System

— Journal of Environmental Studies and Science, November 2013, http://bit.ly/16l996O

Why Are Residential PV Prices in Germany So Much Lower Than in the United States?

— Lawrence Berkeley National Laboratory, August 2013, http://1.usa.gov/148Ays3

Policy Brief: Platform on Industrial Energy Efficiency

— BlueGreen Alliance, August 2013, http://bit.ly/16QDewh

Beyond Renewable Portfolio Standards: An Assessment of Regional Supply and Demand Conditions Affecting the Future of Renewable Energy in the West

— National Renewable Energy Laboratory, August 2013, http://1.usa.gov/17Zg7A6

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Quotes

“Polysilicon is a grossly, grossly, grossly oversupplied commodity product. We’re staring at years of stability where polysilicon pricing sits at something approaching cost of production and doesn’t move.”

— Paul Leming, director of research at Ticonderoga Securities in New York, http://bloom.bg/tPoZN0

“But looking forward….solar panels on the roof will provide power more cheaply than taking power from the grid.”

— David Crane, CEO of the utility NRG, http://bit.ly/rxTt2a

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