NewEnergyNews: WIND’S DROPPING COST MEANS SAVINGS ON U.S. POWER BILLS

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    Thursday, April 10, 2014

    WIND’S DROPPING COST MEANS SAVINGS ON U.S. POWER BILLS

    Wind Power Is Reducing Electricity Rates; Pays Back Tax Credit 17 Times Over

    Andrew Burger, April 7, 2014 (TriplePundit)

    “Higher performance turbines, lower manufacturing costs and lower prices for consumers drove new U.S. wind energy construction to record heights in early 2014 — despite the U.S. Congress still debating whether or not to renew the federal renewable energy production tax credit (PTC), which expired Dec. 31. In many parts of the U.S., wind energy is now the cheapest form of electricity generation – cheaper than natural gas and even coal…Now the cheapest means of generating electricity in many parts of the country, net power generation from wind energy was up 19 percent year-over-year in 2014, meeting 4.13 percent of U.S. grid demand… The 11 states that produce more than 7 percent of their electricity from wind energy have seen their electricity prices fall by 0.37 percent over the last five years, while all other states have seen their electricity prices increase by 7.79 percent over that period…Moreover, the wind energy PTC attracted $25 billion in private sector investment in one year – 17 times the current annual value of the tax credit…” click here for more

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