Wind-generated power in Australia, which is the top coal exporter worldwide, now costs less than electricity from a new power plant using coal or natural gas if carbon emissions are factored in, according to a report by Bloomberg New Energy Finance. Power from fossil fuels is more expensive in Australia because of higher financing costs and natural gas prices as well as a recently added charge on carbon emissions. But the cost of wind power generation there has tumbled by 10% in the past two years, according to Bloomberg New Energy Finance.

Related Summaries