By David Wojick, Ph.D. ~
You often hear that wind and solar power are cheaper than burning coal or natural gas, so we will save money by switching. But as the song says, it ain’t necessarily so. In fact it is almost never so. That wind and solar are cheaper is at best a half truth, more like an eighth truth.
Here is the reality you never hear of.
That wind and solar are cheaper is true in one way, but it is a small way. It is also a technical way, with the grand name of the “levelized cost of electricity” or LCOE. Now “levelized” is not a word you hear every day, to say the least. This might tip you off that something is going on.
In fact LCOE, as it is always called, is a simple idea. It is usually calculated (or estimated) for a single electric…
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