Why Do Renewable Energy Sources Need Government Subsidies?
/If you read the progressive press, or even a little of it, with an interest in matters of energy policy, then surely you know by now that it has become cheaper to produce electricity using the wind and sun than using fossil fuels. You know that because you have read it over and over again, in authoritative articles written by, and quoting, people who seem to know what they are talking about, and with no one ever raising any skeptical questions.
Here are some of the articles that may be among what you have read on this subject:
There was the Financial Times on November 8, 2018, in a piece titled “New wind and solar generation costs fall below existing coal plants.” The Financial Times — now there are people who really know what they are talking about. The article mainly relies on a study then just out from investment bank Lazard, reporting on what is called the “Levelized Cost of Energy” for various sources of generation: “The cost of new wind and solar power generation has fallen below the cost of running existing coal-fired plants in many parts of the US . . . New estimates published on Thursday by Lazard, the investment bank, show that it can often be profitable for US generation companies to shut working coal plants and replace their output with wind and solar power.” . . .


