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Are wind and solar energy affordable?
The high demand of low-cost wind and solar energy helps drive costs down.
The price consumers pay for wind power has fallen 70% in the last 10 years with improved technology and U.S.-based manufacturing, making it the cheapest resource on the market. Wind is uniquely able to offer fixed-priced contracts because renewable energy has no fuel cost and therefore no fuel price risk. Utilities and consumers like wind because it acts as a hedge against future volatility of natural gas prices, much like a fixed-rate mortgage protects homeowners against interest fluctuations.
Solar energy prices have dropped 90% since 2009.