Wind energy and solar is actually cheaper than energy from coal and nuclear power plants

Taking into account health and environmental damage, wind and solar power from new plants in Europe is actually cheaper than energy from coal and nuclear power plants, according to a new report.

Many people find it difficult to calculate the true cost of their electricity. Special duties, taxes and subsidies all add up to influence prices, not to mention the environmental and health costs that aren’t included in the final calculations.

Researchers from Green Budget Germany (GBG) have taken a closer look at these extra costs in a recent study. Their work calculated, among other things, the environmental and health expenses related to available energy sources.

According to GBG’s findings, the least expensive energy sources worldwide are currently wind and solar power. One kilowatt hour (kWh) of electricity produced by wind power stations on the coast or in the countryside costs an average of 0.07 euro (about $0.09).

New solar energy plants in central and southern Europe produce electricity for an average of 0.14 euro per kWh. In Germany, the cost is about 0.18 euro when using rooftop solar panels, while in southern European solar parks it costs about 0.10 euro per kWh.