A Cost Benefit Analysis of Electricity Generation

Abstract

This talk presents a cost-benefit analysis of three main fuels for electricity generation, namely coal, natural gas, and wind. This analysis incorporates social costs and benefits along with traditionally utilized private costs and benefits. The author has recently completed a study monetizing the visual and auditory amenity and disamenity of wind turbines and coal fired power plants, and also natural gas plants, by extension. This analysis utilizes that study and other recent studies on the impacts of electricity generation on water use, wildlife, and property values, among others, as well as other impacts well documented in the literature. Therefore it is the most current cost-benefit analysis of electricity generating facilities. It then examines the policy implications of the analysis.