Aren renewable energy technologies more expensive?
Renewable energy has made great strides in reducing costs, thanks to research and develop- ment and growth in domestic and global capacity. The cost for wind and solar electricity has come down by 80- 90 percent over the past two decades (Figure 2).5 The Electric Power Research Institute projects that the cost of renewable energy will continue fall to levels that are competitive with conventional energy sources over the next 5–15 years.6 Some wind power and geothermal facilities at the best sites are producing electricity for three to six cents per kilowatt-hour and are already competitive with other electricity sources. However, even when they cost somewhat more, renewable technologies can help stabilize prices because their fuel and operating costs are low, and because they create competitive pressure to restrain the price of fossil fuels, particularly natural gas. In addition, renewable energy sources do not impose the large costs to the environment and human health that fossil fuel
