Any investment in fossil fuels at this stage is just throwing money away.
"The latest study by US investment bank Lazard has highlighted the extent to which wind and solar technologies are beating conventional fuels – coal, gas and nuclear – on costs of production, and also on abatement.
The study, the “Levellised Cost of Energy Analysis 9.0 notes that utility scale solar PV has fallen 25 per cent in the last year alone, since its most recent study. Since 2009, when it began the analysis, solar and wind energy have fallen by 80 per cent and 60 per cent respectively.
Lazard says that because of this, and despite big falls in the cost of natural gas in the US, wind and solar are beating conventional fuels in most situations, as revealed in their success in competitive capacity auctions.
And so, to its graphs. The first (below) illustrates the cost falls since 2009 in wind and large-scale solar. Note that these are $US and for US deployment. Wind in the best situations is now at $US32/MWh, while large-scale solar PV is down to best scenario of $US58/MWh. And the curve is still heading down."
