AEP: spinning up 5 gigawatts of wind & taking a shine to 3 GW of solar

Some of the comparably-sized utilities in the Southeast could aspire to the renewable energy ambition that AEP, American Electric Power, has expressed. The vast majority of AEP operations are outside the Southeast where SACE focuses. That said, however, the plan AEP announced this week to reduce greenhouse gas (GHG) emissions 60% by 2030 and 80% [...]

Report: Wind, solar are cheapest options, NOW

In its annual Levelized Cost of Energy analysis, Lazard Associates found the cost for power generated from wind energy resources were around $30-$60 per megawatt hour (MWh) range – even without any subsidies! Unsubsidized solar power resources provided power at a cost of $43-$48/MWh range. That’s 3-6 cents per kilowatt hour (kWh) for wind, or 4.3-4.8 cents per kWh for solar. Of course with existing federal tax credits, real wind power prices could be as low as $14/MWh, or 1.4 cents/kWh, and real solar prices may reach as low as $35/MWh, or 3.5 cents/kWh.

Dirt cheap renewables beating fossil fuels on price

Wind energy has reached record low prices. Wind energy has reached $32-$77 per megawatt hour (MWh) without federal incentives. If the federal Production Tax Credit or Investment Tax Credit is included, wind energy pricing may be $14-$63/MWh.
Utility-scale solar power has reached record low prices. Solar power has reached $50-$70/MWh without federal incentives.

For Renewable Energy, The Future is Now

Solar photovoltaics, wind energy and solar thermal technology costs have all declined pretty substantially since Lazard’s analysis last year. Natural gas and energy efficiency costs have stayed the same, although to be fair, energy efficiency’s starting low cost of $0 per megawatt of energy saved is hard to beat. Meanwhile, coal, nuclear and integrated gasification combined cycle power costs continue to increase.