Coal has become more expensive than renewable energy and it is even more expensive when the carbon tax is added in.
Photovoltaic electricity generation comes in at 20% cheaper than coal while wind generation is now 44% cheaper. Even gas fired generation gets beaten by wind power.
After all the retoric by people wanting to stop the move to low carbon economy, finally, there is no need to continue to build coal fired power stations.
Time to ‘really’ get out of the coal business. Australia should heed this and cease investing money in rail and port facilities for coal and gas.
The report by Bloomberg New Energy Finance is reported in the Sydney Morning Herald: