Connect with us

Hi, what are you looking for?

CleanTechnica
New wind and solar energy generation is already cheaper – on average – than the cost of existing coal or gas power on Australia’s National Electricity Market.

Clean Power

Wind & Solar Are Already Cheaper Than Coal & Gas, So Let’s Get On With It

New wind and solar energy generation is already cheaper – on average – than the cost of existing coal or gas power on Australia’s National Electricity Market.

Originally published on RenewEconomy.
By Sophie Vorrath

New wind and solar energy generation is already cheaper – on average – than the cost of existing coal or gas power on Australia’s National Electricity Market.

We’ve reported it, and Bloomberg New Energy Finance foreshadowed it at the recent Australian Solar Council Solar and Energy Storage conference in Melbourne (did we mention battery storage..?).

And this week, the CEO of the Australian Renewable Energy Agency delivered the news to the federal government’s Senate Environment and Communications Legislation Committee, with the moment captured on video.

After consulting an electricity price app on his phone, ARENA chief Ivor Frischknecht told the Senate Committee: “I can tell that right now, the electricity prices range from the low $80s (/MWh) up to $112/MWh in the various NEM states.

“So all of the prices right now, and in fact the average prices over the last year or so, have been above those numbers that I quoted (for new solar and wind),” Frischknecht said, in response to a question from Greens Senator Larissa Waters.

SEN. WATERS: So you’re saying that new wind and new solar is cheaper than existing coal or gas, or new coal or gas. Is that correct?

FRISCHKNECHT: That is correct.

This, or course, refers to the fact that wind energy contracts are being struck at a price of around $55/MWh and solar contracts are thought to be around $70/MWh, and falling fast.

As former Clean Energy Finance Corp chief Oliver Yates writes today, building more renewables is the most sure-fire way of reducing costs to consumers and industry and protecting jobs. He wants the Victoria renewable energy target’s auction to start soon

Senator Waters echoed that centimes. She posted the exchange on her Facebook page, with the note: “So let’s get on with it.”

Reprinted with permission.

 

Advertisement
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

We publish a number of guest posts from experts in a large variety of fields. This is our contributor account for those special people, organizations, agencies, and companies.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

Advertisement

Advertisement

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

Lawrence Lau is a pharmacist who leases space in a medium-sized shopping centre. He also drives a Model X and is very aware of...

Clean Transport

Courtesy of Vivien Griffin Everyone in the region knows that Noosa’s popular hot spots on the Queensland Sunshine Coast present parking and congestion difficulties,...

Clean Transport

Imagine a time when you can charge your electric vehicle while attending the ballet, or perhaps as a guest at a wedding reception. These...

Clean Transport

When planning a trip, an electric vehicle driver must take into account the ability to charge, either rapidly (on the highway) or slowly (overnight...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.