Research: wind and solar energy will become cheaper by 2030 than analogues

According to their calculations, the construction of new wind and solar power plants will be cheaper than

operation of coal power plants throughoutmain markets. For example, in Australia, where green energy production prices are already comparable to non-green counterparts, this threatens $26 billion of coal-fired energy infrastructure.

The authors of the reports acknowledge that this trend does notnecessarily means that over the next decade, coal energy will be forced out of the market. The document notes that some governments effectively stimulate the development of green power plants through regulatory programs and subsidize them. This will start to make them profit over the next ten years.

UK plans to switch to carbon-free economy

According to them, solar and wind power are already cheaper in most of China and half of Australian stations.

The group also notes that coal powerwill remain in the market longer if it is subsidized. The Carbon Tracker Initiative has called on governments to block new coal projects and phase out existing power plants, allowing renewables to compete on a level playing field.

Report co-author Matt Gray noted that coal investments could become “dead assets.” The analysis showed that governments risk wasting more than 600 billion US dollars.