NewEnergyNews: WIND PRICES AT ALL TIME LOWS

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    Thursday, August 21, 2014

    WIND PRICES AT ALL TIME LOWS

    Study: Price of wind energy in U.S. at all-time low

    Allen Chen, August 19, 2014 (R&D Magazine)

    “Wind energy pricing is at an all-time low, according to [2013 Wind Technologies Market Report from Lawrence Berkeley National Laboratory]…The prices offered by wind projects to utility purchasers averaged just $25/MWh for projects negotiating contracts in 2013, spurring demand for wind energy…Though wind power additions slowed in 2013, with just 1.1 GW added, wind power has comprised 33% of all new U.S. electric capacity additions since 2007…[and] currently contributes more than 4% of the nation’s electricity supply…Since 1998-99, the average nameplate capacity of wind turbines installed in the U.S. has increased by 162% (to 1.87 MW in 2013), the average turbine hub height has increased by 45% (to 80 m), and the average rotor diameter has increased by 103% (to 97 m). This substantial scaling has enabled wind project developers to economically build projects in lower wind-speed sites…Wind turbine prices have fallen 20 to 40% from their highs back in 2008…Wind energy prices have reached all-time lows, improving the relative competitiveness of wind…[P]rojections are for solid growth in 2014 and 2015, with uncertain prospects in 2016 and beyond…” click here for more

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