The Trump administration aims to lift regulations on coal-fired power plants to lower energy costs. However, utilities consider both price and reliability when selecting power sources. Recent data from Lazard shows coal is becoming less competitive compared to renewables like solar and wind. These renewable sources have the lowest costs per unit of electricity produced. Additionally, escalating upfront costs for projects, such as offshore wind farms, have hindered development due to inflation and supply chain issues. This trend signals a shift away from coal-dominance in favor of more sustainable energy options.
The coal-fired power plants are facing increasing challenges as utilities evaluate their investments based on electricity costs and reliability, with renewable energy emerging as the cheaper alternative.
Utilities are prioritizing two main factorsâprice and reliabilityâin their power source selection, especially as coal becomes less competitive against renewable energy technologies.
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