Agora Energiewende today released the results of a cost analysis of four different CO2-free power scenarios in Europe. Says Patrick Graichen, executive director of Agora:
“Wind and solar systems will dominate the power system in increasingly more countries. The battle for the cheapest CO2-free power mix is decided. In the future wind and solar will play an ever greater role in countries across the world as a source of power.”
The German “think-&-do-tank,” funded by the Mercator Foundation and European Climate Foundation, came to two conclusions:
New wind and solar can provide carbon-free power at up to 50% lower generation costs than new nuclear or carbon capture and storage.
A reliable power system based on wind and solar with natural gas backup is 20% cheaper than a system of new nuclear power stations combined with gas.
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Agora advised last year that Chancellor Angela Merkel’s government cap aid to clean-energy developers in order to offset the costs of closing down nuclear reactors and expanding renewables. Agora commissioned this year’s study from Prognos AG, a Swiss economic research consultancy established in 1959. It is freely available on the Agora website.
Read more at CO2-Free Study Finds Wind/Solar Power Cheaper Than Nuclear Or CCS
