The age-old debate rages on as new research comes to light. We have already seen in past research that renewable energies, mainly wind energy, are cheaper than new coal or gas fired generation. However, this new paper uses conservative government figures to factor in the health costs as well.

The new study published in Springer’s Journal of Environmental Studies and Sciences, has factored in the social, health and environmental cost from burning fossil fuels in the US. There is no denying that burning fossil fuels impacts the world around us and carries health risks for us, so it is only logical to include these costs in our calculations. The White House Office of Management and Budget, together with the Department of Energy and eight other federal agencies has created an official figure referred to as the ‘Social Cost of Carbon’ or SCC. The medium figure they have come up with is $33 per tonne of carbon pollution emitted, (from estimates of $11 – $52 per tonne).

The study concludes that renewable energies are cheaper than new fossil fuel plants and that it is also cost effective to replace existing fossil fuel plants with clean energy alternatives. At a costing of $33 per tonne of CO2, new coal fired plants generate electricity at a cost of 13.2 cents per kilowatt hour while wind costs around 8 cents per kilowatt hour. Using a value of $52 per tonne of carbon, coal then costs 14.7 cents per kilowatt hour while solar comes in at 13.3 cents per kilowatt hour.

“Burning coal is a very costly way to make electricity,” said Laurie Johnson, chief economist in the Climate and Clean Air Program at the Natural Resources Defence Council, and co-author of the study. “There are more efficient and sustainable ways to get power. We can reduce health and climate change costs while reducing dangerous carbon pollution driving global warming.”

Johnson went on to say that the US controls the amounts of mercury, arsenic, soot and many other harmful pollutants but they don’t have limits on carbon. Why? Coal fired plants alone account for a massive 40% of the US carbon footprint. The study also shows that sulphur dioxide causes thousands of premature deaths and chronic diseases every year. President Obama’s Clean Air Act will hopefully be the first to put limits on carbon and will, despite what opposition say, decrease electricity generation costs.

“Already, climate change is contributing to record heat waves, floods, drought, wildfires and severe storms,” said Johnson. “These damages are only likely to increase if nothing is done to reduce carbon pollution.”

Reports by the NRDC say that 2012 brought $140 billion worth of damage from natural disasters in the US, of which American tax payers footed around $100 billion of the bill.