Fact Check: "Wind and solar power are cheaper than fossil fuels and nuclear energy."
What We Know
The claim that "wind and solar power are cheaper than fossil fuels and nuclear energy" is supported by various studies and reports. According to a comprehensive analysis of electricity costs, the levelized cost of electricity (LCOE) from utility-scale solar and onshore wind is generally lower than that from coal and gas-fired power stations. Specifically, the average LCOE for onshore wind was reported at around $40 per megawatt-hour (MWh) in 2023, with expectations for further declines in the coming decades (source-3). Additionally, a report indicated that utility-scale solar projects had costs ranging from $38 to $78 per MWh, while natural gas plants had costs between $48 and $109 per MWh (source-7).
Moreover, the cost of solar and wind energy has decreased significantly over the past decade, with reductions exceeding 80% in some cases, making them more affordable than traditional fossil fuels and even some nuclear power plants (source-5).
Analysis
While the evidence supports the claim that wind and solar power are often cheaper than fossil fuels, the situation is nuanced. The LCOE is a critical metric for comparing energy sources, but it does not account for all variables, such as the intermittency of renewable sources and the need for backup systems. For instance, the U.S. Energy Information Administration (EIA) suggests that the economic value of renewable sources should also be considered through metrics like the levelized avoided cost of energy (LACE), which factors in the reliability and dispatchability of energy sources (source-1).
Furthermore, while the LCOE for renewables is lower, the capacity factors—how often a plant operates at full capacity—can vary significantly. Nuclear power plants typically have higher capacity factors (around 80%) compared to wind and solar, which can be much lower depending on location and technology (source-1). This means that while the upfront costs of renewables may be lower, the overall economic viability can depend on local conditions and the existing energy mix.
The sources cited are generally reliable, with the EIA and scientific publications providing well-researched data. However, the interpretation of costs can vary based on regional factors and assumptions made in the analyses.
Conclusion
The claim that "wind and solar power are cheaper than fossil fuels and nuclear energy" is Partially True. While substantial evidence indicates that the LCOE for wind and solar is often lower than that for fossil fuels and some nuclear energy, the overall economic assessment must consider additional factors such as capacity, reliability, and regional conditions. The claim holds under specific circumstances but may not universally apply across all contexts.
