The reality is without the subsidies renewables wouldn't happen, the idea of the subsidies was to help the industry get to scale. But the fact is the renewables doesn't seem to be profitable.
#94 | POSTED BY ONEIRONAUT
The commie agitator has something to say!
Which is of course is completely false all the way around.
Solar was evolving and growing BEFORE subsidies.
With an estimated upfront cost of around $1 million for a 1-megawatt farm, the payback period is about 13 years.
And the profit margin is around 20% depending on the size of the project.
Solar power is becoming cheaper than fossil fuels, with studies showing solar can be 41% cheaper than fossil fuels when comparing utility-scale projects, though the initial investment for residential solar can be high. While fossil fuels have a higher long-term cost due to their finite nature and fluctuating prices, solar power's ongoing operational costs are lower, with the added benefits of being an inexhaustible resource and reducing greenhouse gas emissions.
Around 91% of the utility-scale projects commissioned were more cost effective than fossil fuel alternatives, the report said.
www.reuters.com
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