Can Wind and Solar Energy Be Cost Competitive Soon?
The National Renewable Energy Laboratory has released a study, called ‘Beyond Renewable Portfolio Standards: An Assessment of Regional Supply and Demand Conditions Affecting the Future of Renewable Energy in the West’, which predicts that wind and solar electricity generation installations will become cost-competitive, without the help of federal subsidies, by 2025.
Several states in the western U.S. have set up standard requirements needed for developing a renewable portfolio, which will be the primary drivers of any large scale expansions in wind, solar, and geothermal power-generation capacity.
David Hurlbut, senior analyst at NREL, said that “the electric generation portfolio of the future could be both cost effective and diverse. If renewable and natural gas cost about the same per kilowatt-hour delivered, then value to customers becomes a matter of finding the right mix.