If we calibrate the results of Full Social Cost Pricing for Arizona, we would have the approximate results of: 7.32cents/kWh (the average price state-wide).
The "External Cost" described in the EPA/Duke University paper is 6.65cents/kWh.
Adding these two together we have 13.97cents/kWh.
This is our REAL price.
This is the price that renewable energy technology should be compared to.
If, for instance, an individual can install a Photovoltaic system on his home at a cost of 12 to 13cents/kWh this would be a very REAL savings over the Full Social Cost Pricing of the current electric bill!
From a HOLISTIC perspective, this makes economic sense.
It doesn't make economic sense if we compare the cost to current electricity charges only.