Solar Is Now 33% Cheaper Than Gas Power in US, Guggenheim Says
WASHINGTON -
Natural gas’s dominance as power-plant fuel in the US is fading fast as the cost of electricity generated by wind farms and solar projects tumbles, according to Guggenheim Securities.
Utility-scale solar is now about a third cheaper than gas-fired power, while onshore wind is about 44% less expensive, Guggenheim analysts led by Shahriar Pourreza said Monday in a note to clients.
“Solar and wind now present a deflationary opportunity for electric supply costs,” the analysts said, which “supports the case for economic deployment of renewables across the US.”
Gas prices have surged amid a global supply crunch after Russia’s invasion of Ukraine, while tax-credit extensions and sweeping US climate legislation have brought down the cost of wind and solar. Renewables-heavy utilities like NextEra Energy Inc. and Allete Inc. stand to benefit, and companies that can boost spending on wind and solar will also see faster growth, Guggenheim said.
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Offshore chargepoint will power vessels with wind turbine electricity
LONDON - An offshore charging system will power vessels with 100% renewably generated electricity from wind turbines.
The system, developed by Teesside marine electrical engineering firm MJR Power and Automation, will be presented at the Global Offshore Wind event in Manchester (21-22 June).
Known as the Offshore Wind On-Turbine Electrical Vessel Charging System, MJR says the chargepoints will provide efficient, safe and reliable transfer of clean power for crew vehicles and other offshore support vessels.
“This innovation will break down the existing range barriers and increase the uptake by vessel owners and operators… to fully electric and green propulsion systems for retrofit and…
