FACTBOX-Comparing renewable and fossil fuel prices
Source: Reuters
(This is part of a special report on renewable energy) Feb. 26 (Reuters) - China, the United States and the European Union have all recently said they aim to increase their use of renewable energies like wind, solar and biofuels, to address global warming and energy security concerns. Much depends on the economics of such clean energy technologies, some of which are still much more expensive than conventional fossil fuels like coal and oil. Below is one comparison of 2005 and projected medium-term (2010-2020) costs per energy source, in U.S. cents per kilowatt hour. CURRENT MEDIUM-TERM Gas 3 - 4 depends gas price (combined cycle gas turbines) Coal 3.5 - 4.5 depends coal price Burying carbon dioxide underground (carbon capture) with gas N.A. 4 - 6 with coal N.A. 5 - 8 Nuclear 5 - 7 4 - 8 Biomass co-fired with coal 2.5 - 5 2.5 - 5 combined heat and power 6 - 15 5 - 12 Wind onshore 5 - 8 2 - 4 offshore 9 - 12 3 - 8 Marine tidal/ wave 13 - 20 < 15 Solar photovoltaic temperate climates 50 - 80 15 - 25 tropics 20 - 40 5 - 15 Source: Imperial College, London, Oct. 2005
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