One simple chart shows why an energy revolution is coming — and who is likely to come out on top

The cost of solar power is decreasing so rapidly, it’s now cheaper than coal, based on a new analysis.

A recent report from Lazard shows how the costs of producing electricity from various sources are changing. Energy from utility-scale solar plants — plants that produce electricity that feeds into the grid — has seen the biggest price drop: an 86% decrease since 2009.

The cost of producing one megawatt-hour of electricity — a standard way to measure electricity production — is now around $50 for solar power, according to Lazard’s math. The cost of producing one megawatt-hour of electricity from coal, by comparison, is $102 — more than double the cost of solar.

The dramatic change is clear in this chart:

Jeremy Berke

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