US solar and wind power prices decline

The New York Times reported that the prices of solar and wind power in the United States have been declining in the past five years, and even cheaper than conventional energy such as firepower and natural gas in the Great Plains and Southwestern United States. This has led many power companies to expand the use of renewable energy.

According to Lazard, an investment financial institution, the current cost of solar power in the United States is about 5.6 cents per kilowatt-hour, and wind power is 1.4 cents per kilowatt-hour. In contrast, conventional natural gas generated 6.1 cents per kilowatt-hour, and thermal power generated 6.6 cents per kilowatt-hour, which is already higher than the cost of renewable energy.