CBS News | By Stephanie Pappas – CBS News’ STEPHANIE PAPPAS, ABC NewsA new report shows solar panels are still cheap enough to replace a majority of U.S. electricity generation.
The National Renewable Energy Laboratory reports that since 2009, the average price per watt of solar energy is about $8.75 a watt.
Solar panels are the cheapest form of energy generation in the U.T.A.L. report says solar power was cheaper than the coal, natural gas and nuclear power industries, but that the price is not competitive with other energy sources.
It’s a huge problem because solar is now cheaper than natural gas, natural coal and nuclear.
Now that the cost of solar is falling, you’re going to be able to replace the coal plants.
And I think that’s going to make it very difficult for them to stay in business.
I don’t think they can continue to be competitive.
So I think we’re going back to where we were in 2009.
Now, solar is cheaper than nuclear and natural gas.
But we’re still going to have to import solar power.
It will be more expensive.
And when you import solar, it’s going back into the grid because it will be cheaper.
So, you know, it will take the wind out of the sails of the coal industry.
It’ll take the natural gas out of power plants.
It takes the nuclear power out of plants.
And we’re seeing this trend continue as we continue to ramp up renewables, even though the price has dropped so much.
The price of renewable energy is down so much because the price on fossil fuels is going down.
And we’re now seeing, again, solar, which is now at about half the cost that it was a year ago.
Now solar is the cheapest energy source, but we still have to pay a price for coal and natural coal power.