New Wind and Solar Power Generation Installations Beating Natural Gas Despite Its Low Cost
Per the EIA, in the US in 2016 wind and solar energy generation accounted for nearly 9,000 MW and 8,000 MW, respectively, of capacity additions while natural gas-fired generation added approximately 7,900 MW. The cost of natural gas-fired generation is still considerably cheaper, averaging $895/kW versus wind and solar with an average installed cost (nominal…