An interesting comparative analysis of the cost of electricity generated from fossil fuel vs. renewables highlights the latter to be a cost effective choice.
According to the study done by Associate Professor Bruce Mountain from the Victoria Energy Policy Centre, Victoria University, Australia it was observed that the costs for generating electricity from fossil fuels like- coal or gas and then further the capture of carbon emissions and its underground storage is likely to be at least six times higher than the cost of electricity generated from wind energy including the cost for battery storage.
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