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Photo: Sean Gallup/Getty Images

The cost of building and operating renewable electricity plants has dropped below the expense of keeping coal-fired plants running under some circumstances, according to a new analysis.

Why it matters: The financial advisory firm Lazard's report is another data point showing that wind and solar are increasingly competitive with traditional power sources without tax subsidies, which widen the edge but expire in coming years.

  • As the Financial Times' Ed Crooks points out, "The calculations suggest that closures of coal-fired plants are likely to continue, eroding US demand for coal and jeopardising [President] Trump’s ambition to 'put our coal miners back to work.'"

Where it stands: The latest data on falling renewables costs released yesterday solidifies what started becoming apparent in last year's data from the firm.

  • In their latest report, they find the average so-called levelized cost of energy of utility-scale solar voltaic projects fell another 13% and the costs for onshore wind dropped another 7%.
  • The low end of the unsubsidized costs for onshore wind are now $29 per megawatt hour, while "the levelized cost of utility-scale solar is nearly identical to the illustrative marginal cost of coal, at $36/MWh," a summary notes.

Details: The levelized cost is basically an all-in comparison of the costs of building, running, supplying and maintaining different types of facilities over time.

But, but, but: Lazard cautions that the analysis does not include certain costs, such as transmission and grid integration for new projects. Nonetheless, Lazard's George Bilicic, who leads the firm's power, energy and infrastructure group, said in a statement:

"Although diversified energy resources are still required for a modern grid, we have reached an inflection point where, in some cases, it is more cost effective to build and operate new alternative energy projects than to maintain existing conventional generation plants.”

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Illustration: Sarah Grillo/Axios

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Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.

Far-right figure "Baked Alaska" arrested for involvement in Capitol siege

Photo: Shay Horse/NurPhoto via Getty Images

The FBI arrested far-right media figure Tim Gionet, known as "Baked Alaska," on Saturday for his involvement in last week's Capitol riot, according to a statement of facts filed in the U.S. District Court in the District of Columbia.

The state of play: Gionet was arrested in Houston on charges related to disorderly or disruptive conduct on the Capitol grounds or in any of the Capitol buildings with the intent to impede, disrupt, or disturb the orderly conduct of a session, per AP.