WASHINGTON DC – All of the nation’s coal-fired power plants but one are less cost-effective to operate than constructing new solar or wind facilities in the United States, according to a study published Monday by the firm Energy Innovation.
Analysts compared operating costs at the 210 coal plants in the continental U.S. in 2021 to the estimated costs of developing new solar and wind, both within about 28 miles of the plants and within the broader region.
They determined that 209 of the plants were costlier than either wind or solar would be. When adding energy community tax credits from the Inflation Reduction Act, 199 of the plants were more expensive than solar plants within 28 miles would be, while 104 plants have cheaper wind-energy sources within 28 miles.
The single plant that is cost-competitive with wind and solar is Wyoming’s Dry Forks Station, which the analysis determined is one of the newest and cleanest in the U.S. coal fleet and is still only $0.32 per megawatt-hour cheaper than regional wind would be. If a similar plant were built now, capital costs would keep it from being competitive with renewable energy.
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