Fact: The cheapest form of new power generation is renewable
Wind and solar are now the cheapest form of
new power generation in Australia.
Low wind prices are reflected in recent
contracts for wind.
Worldwide, the cost of large-scale wind and
solar plants continues to fall. Onshore wind costs
fell 18%, and solar PV costs fell 17% in the past
year. Globally, wind prices have reached
record lows.
Sources: * Climate Council 2017
BNEF (2017) BNEF Research – New coal the most expensive
form of new supply.