Method Cents/kW-h Limitations and Externalities
WindCurrently supplies approximately 1.4% of the global electricity demand. Wind is considered to be about 30% reliable. 4.0 - 6.0 Cents/kW-h Wind is currently the only cost-effective alternative energy method, but has a number of problems. Wind farms are highly subject to lightning strikes, have high mechanical fatigue failure, are limited in size by hub stress, do not function well, if at all, under conditions of heavy rain, icing conditions or very cold climates, and are noisy and cannot be insulated for sound reduction due to their size and subsequent loss of wind velocity and power.
GeothermalCurrently supplies approximately 0.23% of the global electricity demand. Geothermal is considered 90-95% reliable. 4.5 - 30 Cents/kW-h New low temperature conversion of heat to electricity is likely to make geothermal substantially more plausible (more shallow drilling possible) and less expensive. Generally, the bigger the plant, the less the cost and cost also depends upon the depth to be drilled and the temperature at the depth. The higher the temperature, the lower the cost per kwh. Cost may also be affect by where the drilling is to take place as concerns distance from the grid and another factor may be the permeability of the rock.
HydroCurrently supplies around 19.9% of the global electricity demand. Hydro is considered to be 60% reliable. 5.1 - 11.3 Cents/kW-h Hydro is currently the only source of renewable energy making substantive contributions to global energy demand. Hydro plants, however, can (obviously) only be built in a limited number of places, and can significantly damage aquatic ecosystems.
SolarCurrently supplies approximately 0.8% of the global electricity demand. 15 - 30 Cents/kW-h Solar power has been expensive, but soon is expected to drop to as low as 3.5 cents/kW-h. Once the silicon shortage is remedied through alternative materials, a solar energy revolution is expected.