https://rmi.org/clean-energy-is-canceling-gas-plants/And the benchmark costs of clean energy have fallen meaningfully in the past year. We have updated our analysis, using new data on renewable energy and storage costs from the US Department of Energy-sponsored 2020 Annual Technology Baseline (ATB) and an improved representation of how storage can contribute to meeting peak demand. We have found that CEPs are now even more compe ive with new gas plants.
Importantly, this updated analysis shows that most proposed gas plants that do get built will face stranded cost risks within 10 years of construction. If cost and efficiency improvements for clean energy continue at closer to their historical rates (e.g., as shown in the 2020 ATB’s Advanced scenario), 90 percent of planned combined-cycle capacity will face stranded cost risk by 2026. For many gas-fired plants, this could mean that they are already stranded assets the day they enter service.