The Ongoing Fiction of Cheap Wind and Solar - Vijay Jayaraj

Those claiming that wind and solar energy are cheaper than fossil fuels should be writing scripts for science fiction dramas.

• The metric used to perpetuate the wind and solar fantasy is the levelized cost of electricity (LCOE), a deeply flawed tool that masks the real costs of these energy sources whose ability to perform is subject to the weather and time of day.
• Designed to deceive, LCOE creates a mirage that has seduced many a foolhardy policymaker...
• By ignoring critical factors like reliability, infrastructure and subsidies, LCOE paints a deceptively rosy picture, leaving consumers footing a far higher bill than advertised.
• LCOE treats all electricity as equal. A kilowatt-hour produced at 2 a.m. is valued the same as one at 9 a.m., even though demand and value are vastly different at these times. In real life, electricity at peak demand is far more valuable than off-peak power...