Subtitle:
Wind and solar projects now offer electricity at prices that conventional plants can't match
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In an energy auction in Mexico last fall, the Italian energy conglomerate ENEL was reported to have submitted the lowest ever bid for supplying solar electricity — just $17.70 per megawatt hour, or 1.77 cents per kilowatt hour. It turns out the bid actually was for wind-generated power, not solar, but the initial reporting error didn't change the underlying fact: the cost of both wind and solar electricity is sinking fast.
