One of the main arguments for the continued use of fossil fuels is the price, right? Well, a recent report from global financial advisory firm Lazard has shown that developments in wind and solar technology have now pushed costs below conventional energy sources such as coal and nuclear. Lazard’s latest annual Levelized Cost of Energy Analysis shows specific solar configurations and wind technology are now more cost-effective than traditional energy technology.

According to the report, the cost of producing one megawatt-hour of electricity from coal is currently $102 (USD). More than double the cost of solar sitting at around $50 for the same unit. This increasingly rapid decline in infrastructure costs now makes renewable technology a very real option for corporations driven purely by cost. Let’s hope this trend sees some significant movement in construction and transportation investment in the very near future.

The full report can be found here.