Fudging The Numbers: Why Wind and Solar Cost Estimates from Bloomberg New Energy Finance are Almost Certainly Wrong
In March of 2019, Bloomberg New Energy Finance (BNEF) released a public “fact sheet” alleging the cost of electricity generated by wind and solar in Minnesota had reached new record lows, but there is a problem; BNEF refuses to share the assumptions and methodology used to calculate their cost estimates with the public. This begs the question, what are they hiding? Probably a lot. BNEF estimated the unsubsidized levelized cost of energy (LCOE) for wind and solar to be $38 and $60 per megawatt hour, respectively. In contrast, a study by Center of the American Experiment found the cost of new, unsubsidized...
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