New Report PROVES Wind Power’s REAL cost!

Average wind farm installation prices have dropped to roughly $1,590/kW (kilowatt). Some projects in the Interior region of the country were installed for roughly $1,200/kW. The national average levelized cost of power purchase agreements (PPA) has reached $20 per megawatt ($20/MWh), or 2 cents per kilowatt hour, with a number of projects in the Interior region venturing below 2 cents. Those prices are below long-term fuel costs for natural gas power plants.

Are We Understating the Potential for (and Uncertainty in) Wind Energy Cost Reductions?

The single most-significant difference came from the so-called ‘leading experts’: a hand-selected group of 22 individuals who are among the wind sector’s most knowledgeable and senior leaders. Those experts were, on average, even more optimistic about wind energy cost reduction, expecting LCOE to decline by 27% by 2030 and 48% by 2050 in the median scenario, and by 57% and 66% in the low scenario (Figure 4). The views of this group suggest even greater potential for cost reduction than noted earlier.

Wind power prices continue to PLUMMET

Lawrence Berkeley National Laboratory (LBNL) has released its 2014 Wind Technologies Market Report. This annual report highlights important achievements for the wind industry. Wind power purchase agreement prices have hit record lows. That’s good news for the South, where wind energy is beginning to make inroads. The National Renewable Energy Lab previously found that new innovative turbines, with taller towers and longer blades, open up billions of dollars worth of wind energy opportunity in the South. Listed below are a few highlights from LBNL’s most recent report.