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Renewables ‘have won the race’ against coal and are starting to beat natural gas
The rapidly dropping cost of renewable energy has upended energy economics in recent years, with new solar and wind plants now significantly cheaper than coal power. But new research shows another major change is afoot: The cost of batteries has been declining so unexpectedly rapidly that renewables plus battery storage are now cheaper than even natural gas plants in many applications, according to a report released this week by Bloomberg New Energy Finance (BNEF).