Renewable Power Becomes Costlier for the US, but Big Firms Enjoy Lower Prices, Lazard Finds
Mar 26,2024 | DAXTROMNSOLAR
According to a recent report by Lazard, the cost of clean energy in the United States is increasing overall. However, big companies are benefiting from lower prices compared to the average consumer. The study highlights that the average price of utility-scale solar power and wind power has risen by 15% and 3% respectively over the past year. This can be attributed to rising costs of raw materials, such as steel and copper, along with other supply chain challenges. On the other hand, large corporations are able to secure cheaper renewable energy through power purchase agreements (PPAs) and can benefit from the economies of scale.
This news reveals a contrasting scenario in the US renewable energy market. While clean energy is becoming more expensive for regular consumers, big businesses can take advantage of lower prices. This could potentially widen the gap in access to affordable clean power and hinder the transition to a sustainable energy future for all.
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