By the early 2020s, it will be cheaper to get power from newly built wind and solar projects than from existing coal and nuclear plants. So says James Robo, CEO of NextEra Energy, the largest U.S. utility by market value and the biggest producer of wind and solar generation. He told Wall Street analysts on a recent conference call that, with existing tax credits, wind power can be produced at 1.2 to 1.8 cents per kilowatt-hour, and solar at 2.5 to 3.5 cents. Vox has a story, here, contemplating how remarkable those prices are. A transcript of Robo’s comments is here.
KEY QUOTE: “Our prospects for new renewable growth have never been stronger.” —NextEra Energy CEO James Robo