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Environment & Energy Report

Wind, Solar Costs Keep Falling, Squeezing Nuke, Coal Plants

Nov. 8, 2018, 3:21 PM

Wind and solar have become the cheapest sources of power, and natural gas-fired plants are the best option to back them up, according to Lazard Ltd.

The levelized cost of energy from large solar installations has fallen to as low as $36 per megawatt-hour, while wind is as cheap as $29, Lazard said Nov. 8 in a report. That is cheaper than the most efficient gas plants, coal plants or nuclear reactors.

Even as renewables become cheaper, gas plants remain a competitive way to balance out intermittent output from wind and solar, George Bilicic, Lazard’s global head of power and...

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