Solar Is Now 33% Cheaper Than Gas Power in US, Guggenheim Says

Source: By Angel Adegbesan, Bloomberg • Posted: Tuesday, October 4, 2022

Natural gas’s dominance as power-plant fuel in the US is fading fast as the cost of electricity generated by wind farms and solar projects tumbles, according to Guggenheim Securities.

Utility-scale solar is now about a third cheaper than gas-fired power, while onshore wind is about 44% less expensive, Guggenheim analysts led by Shahriar Pourreza said Monday in a note to clients.

“Solar and wind now present a deflationary opportunity for electric supply costs,” the analysts said, which “supports the case for economic deployment of renewables across the US.”