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Utilities, commercial purchasers benefit from wind energy’s improvements and lowered prices

piggy-ban-renewablesAnnual wind report confirms tech advancements, improved performance, and low energy prices, Eureka Alert,  DOE/LAWRENCE BERKELEY NATIONAL LABORATORY, 17 Aug 16  Wind energy pricing remains attractive to utility and commercial purchasers, according to an annual report released by the U.S. Department of Energy and prepared by the Electricity Markets & Policy Group at Lawrence Berkeley National Laboratory (Berkeley Lab). Prices offered by newly built wind projects are averaging around 2¢/kWh, driven lower by technology advancements and cost reductions.“Wind energy prices–particularly in the central United States–are at rock-bottom levels, with utilities and corporate buyers selecting wind as the low-cost option,” said Berkeley Lab Senior Scientist Ryan Wiser. “Moreover, enabled by technology advancements, wind projects are economically viable in a growing number of locations throughout the United States.”

Key findings from the U.S. Department of Energy’s reflective “Wind Technologies Market Report” include:

  • Wind power represented the largest source of U.S. electric-generating capacity additions in 2015. Wind power capacity additions in the United States surged in 2015, with $14.5 billion invested in 8.6 gigawatts (GW) of new capacity. Wind power constituted 41% of all U.S. generation capacity additions in 2015, up sharply from its 24% market share the year before and close to its all-time high. Wind power currently meets about 5% of the nation’s electricity demand, and represents more than 10% of total electricity generation in twelve states, and more than 20% in three of those states.
  • Bigger turbines are enhancing wind project performance……
  • Low wind turbine pricing continues to push down installed project costs. Wind turbine prices have fallen 20% to 40% from their temporary highs in 2008, and these declines are pushing project-level costs down. …..
  • Wind energy prices remain very low. Lower installed project costs, along with improvements in capacity factors, are enabling aggressive wind power pricing. ….
  • The manufacturing supply chain continued to adjust to swings in domestic demand for wind equipment. …. http://www.eurekalert.org/pub_releases/2016-08/dbnl-awr081716.php

August 26, 2016 - Posted by | renewable, USA

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