The cost of solar and wind power generation continues to fall, squeezing the nuclear and coal power markets

According to Lazard, a U.
S.
investment bank, wind and solar power have become the cheapest sources of electricity, and natural gas power plants are the best choice
to support them.

Lazard said in a recent report that the average energy cost of large-scale solar installations fell to $36 per megawatt-hour, while the cost of wind power was as low as $
29 per megawatt-hour.
This is cheaper
than the most efficient gas plants, coal-fired power plants or nuclear reactors.

George Bilicic, Lazard's global head of power and energy, said: "Even as renewables become cheaper, natural gas plants remain a highly competitive way to
balance the intermittent output of wind and solar.
On the other hand, the coal and nuclear industries are struggling to stay afloat
.
”

"We will continue to see this battle going on," George Bilicic said
.
"While grid-scale energy storage may one day be an ideal support for wind and solar power plants, the technology remains costly and impractical
.
"