Now this is some good news, worth reading. So how can we avail one, or how is it going to work. Will it be supplying for all the houses, and does that mean that electric bills and so are oil and gases prices will go down?
Is that it?
Bloomberg New Energy Finance has performed an analysis of different forms of energy production in Australia, and discovered that electricity from renewable energy sources was cheaper to produce than electricity from new build coal and gas power plants.
New wind farms in Australia can produce electricity at $80/MWh, which is far cheaper than coal power stations which produce at $143/MWh, and even natural gas power stations at $116/MWh.
Michael Liebreich, the chief executive at Bloomberg New Energy Finance (BNEF), stated that “the perception that fossil fuels are cheap and renewables are expensive is now out of date.
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.”