New Energy Beating Old Energy In The Market, Part 3

Plunging Prices Mean Building New Renewable Energy Is Cheaper Than Running Existing Coal

Megan Mahajan, December 3, 2018 (Forbes)

“…Lazard’s [low 2018 LCOE New Energy] values mirror the historical trend of renewable energy prices falling with research and development…[This was] achieved thanks to research and development (R&D), increased deployment, and endogenous learning. The proven gains from renewable energy R&D and deployment policies for wind and solar indicate how to lower the costs of other clean energy technologies…[O]ver time, R&D becomes a less important mechanism while learning-by-doing and economies of scale increase as more and more project capacity is installed…R&D is most effective in the early lifecycle of a technology, and finding funding to overcome the “valley of death” between R&D and commercialization is crucial to an immature technology’s success…” click here for more

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