Quartz

Two US electric utilities have promised to go 100% carbon-free—and admit it’s cheaper

Two US electric utilities recently declared something remarkable: It’s cheaper to tear down their coal plants and build renewable-energy plants than to keep the old…

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Michael Coren
reporter at Quartz

I knew renewables were getting cheaper, but I was surprised in my reporting to find you make more money by tearing down old coal plants and replacing them with new solar panels or wind turbines.

This new business model -- "steel for fuel" -- means customers get cheaper electrons, and utilities make a regulated rate of return on new infrastructure. It's hitting the American West first (lots of wind and sun). But it's coming for everyone.