Cost of Solar and Wind Energy

  

In March 2021, Bloomberg New Energy Finance found that "renewables are the cheapest power option for 71% of global GDP and 85% of global power generation. It is now cheaper to build a new solar or wind farm to meet rising electricity demand or replace a retiring generator, than it is to build a new fossil fuel-fired power plant. ... On a cost basis, wind and solar is the best economic choice in markets where firm generation resources exist and demand is growing."^[80]: 24

They further reported "the levelized cost of energy from lithium-ion battery storage systems is competitive with many peak-demand generators."^[80]: 23 BNEF does not disclose the detailed methodology and LCOE calculation assumptions, however, apart from declaring it is "derived from selected public sources".^[80]: 98 Costs of gas peakers are substantial, and include both the cost of fuel and external costs of its combustion. Costs of its combustion include emission of greenhouse gases carbon monoxide and dioxide, as well as nitrogen oxides (NOx), which damage the human respiratory system and contribute to acid rain.^[81]

https://en.wikipedia.org/wiki/Cost_of_electricity_by_source