January 18, 2018 – ANN ARBOR: Earlier this week, Paul Wesenberg, sent around this article from Vox.
In 2017, Colorado’s largest energy utility, Xcel, issued an RFP for any and all types of energy sources.
The results indicate some of the barriers to renewable energy sources are falling.
One barrier to renewables is the issue of storage. Solar and wind energy can be stored to be used during peak usage (but low production) times. In the past, storage systems have raised the price of renewables considerably. But in Colorado, storage facilities raise the price of renewables only slightly. And they are still cheaper than existing non-renewable resources (like coal).
Why does this matter? Renewable energy costs are highly dependent on individual markets, which is why having real world examples like Colorado’s bids are so important to track their costs. The take-away? Renewable costs are dropping faster than that meteor that struck SE Michigan early this week.