The study, ordered and endorsed by the European Commission, revealed that generating electricity from onshore wind has an approximate cost of €105 per megawatt hour compared with up to €164 for gas, €133 for nuclear and €162 to €233 for coal.
Additionally, offshore wind costs €186 whereas solar PV costs approximately €217 per MWh, according to Ecofys research which factors in externalities such as air quality, climate change and human toxicity among others.
The team also found that coal is more expensive, based on the total energy production cost, than the highest retail electricity price in the EU.
In 2012, the EU’s energy mix external cost stood between €150bn and €310bn, the report says.
The European Wind Energy Association deputy chief executive officer Justin Wilkes said: "This report highlights the true cost of Europe’s dependence on fossil fuels.
"Not only does the Commission’s report show the alarming cost of coal but it also presents onshore wind as both cheaper and more environmentally-friendly."
"The irony is that coal is the most expensive form of energy in the European Union.
"This report shows that we should use the 2030 climate and energy package as a foundation for increasing the use of wind energy in Europe to improve our competitiveness, security and environment."
The report suggests that onshore and offshore wind technologies have space for significant cost reduction but coal is unlikely to reduce further costs.
