Gas prices likely to soar above renewables costs
Choosing Gas Could Cost 40% More Than Renewable Energy Clean Technica, August 13th, 2014 RenewEconomy By Sophie Vorrath
Relying on gas-fired electricity generation “as a serious option” for reducing greenhouse emissions and cleaning up Australia’s power sector could cost up to 40 per cent more than a shift to renewables, and leave Australian households $500 a year worse off, a new report has found.
The UNSW report found that rising and uncertain gas prices were likely to create a market where investment in renewable energy generation would become the cheaper and lower risk option for Australia.
In modelling from the Centre for Energy and Environmental Markets (CEEM), researchers compared the risks and uncertainties in using gas-fired electricity or renewable technologies as part of a low-carbon transition.
The results found that, electricity costs would be lower and more certain with a diverse portfolio of renewables – including wind, solar photovoltaics, hydro, and others – while electricity portfolios with heavy reliance on baseload gas-fired generation could result in 40 per cent higher wholesale electricity costs……….http://cleantechnica.com/2014/08/13/choosing-gas-cost-40-renewable-energy/
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