By Manuela Andreoni
“For fossil fuel, most of the expense is the commodity. It’s the operating expenses, the fuel,” said Gernot Wagner, a climate economist at Columbia Business School. “With renewables, it’s the exact opposite, in the sense that it’s the solar panel initially that costs a lot. And once installed, you’re basically printing money.”
Quoted in: “Fighting inflation with climate action” by Manuela Andreoni, New York Times Climate Forward newsletter (9 August 2022).