A study produced by Bloomberg New Energy Finance has found that wind energy in Australia is 14% cheaper than new coal and 18% cheaper than new gas. The analysts expect that large-scale solar photovoltaic will be cheaper than coal by 2020 and that solar thermal will be cheaper than coal by 2030.
Since 2011, the cost of wind generation in Australia has fallen by 10% and the cost of solar photovoltaics has fallen by 29%.
Excluding the carbon price, electricity generated from new wind farms now costs about $82 per megawatt hour; electricity from new coal plants costs about $95 per megawatt hour and electricity from new natural gas plants costs about $100 per megawatt hour.
When the carbon price ($23.50 per tonne of carbon emissions) is included, the price of coal power is about $146 per megawatt hour and natural gas is about $119 per megawatt hour.