A deep dive into the costs of producing electricity examines why renewable energy has become so cheap, so fast. The relative cheapness of electricity generated from fossil fuels has stopped us reducing our reliance on them (coal/oil/gas still account for 79% of world energy production). But in the past decade, renewable prices have plummeted: onshore wind down 70%, solar by 89%. Why? Because while the cost of fossil fuel-generated electricity depends on the cost of those fuels, the renewable costs are all about the cost of the technology – costs that come down fast as we use more of them. Offshore wind is still costly, but the good news for those of us in island-bound Britain is that its costs should fall too.
Guardian 6th Dec 2020 read more »