It’s now cheaper to build a new wind farm than to keep a coal plant running

Inflation dictates that the cost of living will continue to rise — except, it seems, when it comes to renewable energy. The cost of building a new utility-scale solar or wind farm has now dropped below the cost of operating an existing coal plant, according to an analysis by the investment bank Lazard. Accounting for government tax credits and other energy incentives would bring the cost even lower.

"There are some scenarios, in some parts of the U.S., where it is cheaper to build and operate wind and solar than keep a coal plant running," said a Lazard banker who was involved in the report. "You have seen coal plants shutting down because of this."

Every year, the investment bank analyzes the cost of different types of energy using a metric called the levelized cost of energy, or LCOE. This analysis factors in the cost of components and the cost of operations, as well as the cost of debt, to come up with the smallest dollar amount, per unit of energy, for an investor in the project to see a 12 percent return. 

Read the CBS News story by Irina Ivanova - “It’s now cheaper to build a new wind farm than to keep a coal plant running.”

Earth's biodiversity drops below 'safe limit'

Biodiversity has dropped below the "safe limit" across 58 per cent of the Earth's surface, according to the most comprehensive analysis of global data to date.

The international study, published today in the journal Science, suggests that the degree of lost biodiversity across more than half the world's surface is substantial enough to question the ability of many ecosystems to support human societies.

"We've found that across most of the world, biodiversity loss is no longer within the safe limit suggested by ecologists," said lead researcher Dr Tim Newbold of University College London.

"We know biodiversity loss affects ecosystem function but how it does this is not entirely clear.

"What we do know is that in many parts of the world we are approaching a situation where human intervention might be needed to sustain ecosystem function."

Other environmental experts said the research was impressive in its scope. But they said it is too soon to say we are on the verge of an ecological disaster and more work is needed at a local level.

Read the Melbourne Age story - “Global map reveals 'unsafe levels' of biodiversity across 58pc of Earth's surface.”

Earth's biodiversity drops below 'safe limit'

Biodiversity has dropped below the "safe limit" across 58 per cent of the Earth's surface, according to the most comprehensive analysis of global data to date.

The international study, published today in the journal Science, suggests that the degree of lost biodiversity across more than half the world's surface is substantial enough to question the ability of many ecosystems to support human societies.

"We've found that across most of the world, biodiversity loss is no longer within the safe limit suggested by ecologists," said lead researcher Dr Tim Newbold of University College London.

"We know biodiversity loss affects ecosystem function but how it does this is not entirely clear.

"What we do know is that in many parts of the world we are approaching a situation where human intervention might be needed to sustain ecosystem function."

Other environmental experts said the research was impressive in its scope. But they said it is too soon to say we are on the verge of an ecological disaster and more work is needed at a local level.

Read the Melbourne Age story - “Global map reveals 'unsafe levels' of biodiversity across 58pc of Earth's surface.”