Study: Green Energy Is 5 Times More Expensive Than Conventional Power

Electricity from new wind and solar power is 2.5 to five times more expensive than electricity from existing conventional power sources, according to a study published Tuesday by the free-market Institute for Energy Research (IER). IER’s study found that new solar and wind power are nearly five and 3.5 times more expensive, respectively, than electricity from existing nuclear reactors. IER also found green energy systems become more expensive and damaging to the power grid the more they’re used. “Much of our existing coal and nuclear fleet could continue to provide affordable, reliable electricity for decades to come if not for policies like the Obama administration’s carbon regulations or the deal struck in California to shut down Diablo Canyon,” Thomas Pyle, the IER president, wrote in a press statement...more