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Wind power is now cheaper than power from coal. Surprisingly rapid adoption and advances mean electricity can be generated from offshore wind at about $113/Megawatt hour, basically the same price as electricity generated from coal. The trend is expected to continue, dropping the price to about $70/MWH. This is cheaper than rooftop solar, but rooftop solar is expected to reach the coal threshold within four years. The two combined are accelerating coal’s financial death spiral, the negatively reinforced effect that, as other options become more attractive, less coal is used, coal’s costs remain high but have to be distributed across fewer customers thereby driving up the price of coal, which creates a greater incentive to switch to the other options. The trend is happening ahead of projections.

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