IEA: Renewables are becoming more competitive with fossil fuels

11/28/2011 | Reuters

Renewable energy is getting closer to matching the cost of fossil fuels "without the need for specific economic support," according to a report from the International Energy Agency. However, tax incentives are justified for technologies that are not yet competitive, the report showed. "Where technologies are not yet competitive, economic support for a limited amount of time may be justified by the need to attach a price signal to the environmental and energy security benefits of [renewable energy] deployment," the report added.

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