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Solar and Wind plants will soon be cheaper than coal in markets around world, analysis finds

According to an article in The Guardian, solar and wind power generation is becoming less expensive than existing, as well as new, coal plants. The question is when will governments and the financial markets embrace the change? Although this article is focused on Australia’s current situation, it appears to be relevant to the rest of the world.

“Report raises fresh doubt about viability of Australia’s thermal coal export industry.”

“Building new wind and solar plants will soon be cheaper in every major market across the globe than running existing coal-fired power stations, according to a new report that raises fresh doubt about the medium-term viability of Australia’s $26bn thermal coal export industry. While some countries are moving faster than others, the analysis by the Carbon Tracker Initiative, a climate finance thinktank, found renewable power was a cheaper option than building new coal plants in all large markets including Australia, and was expected to cost less than electricity from existing coal plants by 2030 at the latest.” [READ MORE]