Wind and Solar Are NOT Cheaper Than Coal and Oil

July 19, 2023

by Connor Mortell Mises.org

In his recent address, President Joe Biden claimed that “wind and solar are already significantly cheaper than coal and oil.” This is flat-out wrong. There are many arguments that can be made for Biden’s claim. However, not only can they all be refuted, but they have all already been refuted.

Alex Epstein, in his book Fossil Future: Why Global Human Flourishing Requires More Oil, Coal, and Natural Gas—Not Less, explains that two facts are ignored when pretending that wind and solar are cheaper. The first is that

solar and wind exist in large quantities exclusively in places where they are given massive government preferences. When you look at where solar and wind are used, you will invariably find subsidies—that is, the government forcing taxpayers to give money to solar and wind companies. Often, governments actually mandate a certain percentage of solar and wind by law.