Price of inefficient wind and solar drops
A new report from the Department of Energy catalogs just how much renewable energy prices have fallen in recent years.Whatever the costs they are still inefficient. They still have no way to modulate the output or store excess energy at a reasonable price. They still need fossil fuel alternatives for when the wind is not blowing or the sun is not shining. That makes them expensive despite the price declines.
Since 2008 – probably not coincidentally the year President Obama was elected to the White House – government analysts put the cost declines as such:
- Onshore wind turbines are down 41 percent
- Rooftop solar is down 54 percent
- Utility-scale solar farms are down 65 percent
With falling prices has come growth that would have been unthinkable a decade ago.
Last year solar panels and wind turbines accounted for more than two-thirds of the power generation installed on the U.S. grid, with wind accounting for more than 40 percent of the total, the Department of Energy reported Wednesday.