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Posted on Feb 11, 2013

"Sydney, 7 February 2013 – Unsubsidised renewable energy is now cheaper than electricity from new-build coal- and gas-fired power stations in Australia, according to new analysis from research firm Bloomberg New Energy Finance." - Bloomberg New Energy Finance

“The perception that fossil fuels are cheap and renewables are expensive is now out of date”, said Michael Liebreich, chief executive of Bloomberg New Energy Finance. “The fact that wind power is now cheaper than coal and gas in a country with some of the world’s best fossil fuel resources shows that clean energy is a game changer which promises to turn the economics of power systems on its head,” he said.

As the price of fossil fuels continues to climb as the resources become more costly and risky to extract, renewables continue to come down in initial capital costs, while being an essentially fixed cost once installed, again beating non-renewables. All this, without adding in the costs of pollution caused by fossil fuels and uranium based power sources, and again it becomes crystal clear that the future for so many reasons is all about renewable energy. All sensible future investments will be in renewables. Now the great danger is the propaganda war that fossil and nuclear industries will wage to hide these facts from the investing and energy using public in order to try to prop up their sunk investment that is in the trillions of dollars. Those profits now being shown to be at significant risk are undermining the future viability of these industry giants. They won't be going down without a fight. Expect billions to be wasted by them trying to brainwash you into believing their products cost less. They don't but billions of dollars in advertising and public relations will make you wonder.

Spread the word on this one. Let people you know and talk to that this is the case, that renewables cost less than new fossil plants like gas and coal. As we become bombarded by misinformation and propaganda particularly during election time, we must make sure our politicians, who will without a doubt be lobbied/bribed by these industries to look the other way regarding the true costs, know we know what is really going on, and only vote for those that understand our future relies on renewables. Renewable energy is the only sane choice globally from here on, period, end of story. That is the only way our children have a chance both from a climate perspective and economically. It just makes sense.

Check out the great coverage on this at Nation of Change.

Source: Bloomberg New Energy Finance

Photo Credit: By Akhil.Jariwala (Own work) [CC-BY-SA-3.0], via Wikimedia Commons