U.S. Energy Secretary: Solar and wind energy now cost-competitive without subsidies

U.S. Energy Secretary Ernest Moniz, who trained as a nuclear physicist, believes that the price of solar and wind power have fallen so dramatically that the market for them can now grow without subsidies. Moniz told reporters that the Obama administration supports Congress' extension of renewable energy tax credits, but "I certainly see solar growing" even "without subsidy" and the cost reductions have "been incredible" for the solar industry, making for an improved "value proposition ... in many contexts."

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