IRENA report: Renewables with battery storage now cost-competitive with fossil fuels
By
Craig Saueurs
Summary
A new IRENA report finds that renewable energy combined with battery storage can now compete with fossil fuels on cost, challenging the argument that renewables can't provide reliable 24/7 electricity. Battery storage costs have dropped over 90% since 2010, making solar and wind power with storage cheaper than new coal plants in many regions, and even undercutting new gas power in some parts of the world. This comes as geopolitical tensions (war on Iran) push Europe to reconsider its energy reliance.
Source
bskyIRENA report: Renewables with battery storage now cost-competitive with fossil fuelseuronews.comKey quotes
· 3 pulledClean energy can provide reliable, around-the-clock electricity at prices that rival fossil fuels, as the war on Iran forces Europe to re-think its reliance.
The findings challenge one of the fossil fuel industry's longest-running arguments against renewables: that they cannot provide reliable, 24/7 electricity.
The cost of battery storage has dropped more than 90 per cent since 2010, bringing the cost of renewable energy down with it.
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