Myth: Renewable Energy is Too Expensive to Be Affordable?

This chapter debunks the prevalent myth that renewable energy is economically uncompetitive and too costly compared to fossil fuels and nuclear power. It exposes the flawed assumptions behind this misconception, emphasizing the dynamic nature of renewable energy and the hidden costs associated with traditional sources. Highlighting the vested interests of the fossil fuel industry, the chapter advocates for a comprehensive evaluation of energy costs, considering both direct production costs and broader externalities. Structured into sections, the chapter sequentially explores factors influencing renewable energy costs (Sect. 3.2), the increasing competitiveness and accessibility of renewable energy (Sect. 3.3), the often-overlooked externalities and hidden costs of fossil fuels and nuclear power (Sect. 3.4) and concludes with a summary of key findings and implications (Sect. 3.5). The narrative aims to dispel misconceptions, promoting a nuanced understanding of energy economics, and advocating for the broader adoption of renewable energy as a viable and beneficial alternative.