The latest levellised cost of energy assessment has been released by global investment bank Lazard, confirming – as CSIRO and the market operator have done in Australia – that wind and solar, even “firmed” by battery storage, still beat the fossil fuel competition.

In fact, the Lazard assessment shows that on pretty much any assessment – cost of energy, cost of energy and firming, marginal cost of energy, and cost of capital – wind and solar win easily. And that’s without counting the carbon cost of their competitors, and the impact of the Joe Biden’s Inflation Reduction Act.

The fact that this is also the case in the US – the biggest energy market of all – is deeply significant. Best in class wind and solar cost a fraction of their fossil fuel competitors, the Lazard study shows.

More than that, but shows that even based on the “marginal” cost of generation – essentially the cost of maintenance and burning the fuel – wind and solar still win. And the technologies most affected by the cost of capital (rising interest rates), are the  conventional generators too – nuclear in particular.

Gas can’t compete with wind, solar and storage, even in world’s biggest market | RenewEconomy