A new analysis shows that solar and wind energy are less expensive than oil and gas for about 2/3 of the world. The analysis, published this week in BloombergNEF, analyzes levelized cost of energy (LCOE) around the world.
The analysis shows that just since last year (2019!), the cost of wind has dropped 9% and the cost of utility scale solar has dropped 4%. Also, the cost of battery storage has dropped to about half of what it was 2 years ago.
With the cost of renewable energy continuing to drop, and knowing how bad fossil fuels are for our health (air pollution) and for climate change, it makes sense that as we make plans for recovery from the coronavirus pandemic, we should focus on clean energy.
Fossil fuel production and combustion contribute to both ozone and particulate air pollution. Both are very bad for our health, and between them cause asthma attacks, respiratory disease, heart disease, strokes, and cancer. Particulate air pollution also makes us more susceptible to viral illnesses.
Fossil fuel production and combustion contribute to climate change by producing greenhouse gases, including methane and carbon dioxide. Climate change also harms our health, with changes in infectious diseases, increased air pollution, stronger storms, effects on food and agriculture, and more intense wildfires.
So let’s be smart, and plan for energy generation that doesn’t hurt our health or our wallets – wind and solar.
