Wind Power Costs Set to Decline 50 Percent by 2030
By Editors of Power Engineering
Wind energy cost reductions could decline by another 50 percent by 2030, the Department of Energy’s National Renewable Energy Laboratory revealed.
That fall would be on top of the existing 66 percent cost reduction since 2009.
Last year, a study funded by the DOE had predicted wind costs would fall by 24 to 30 percent. The latest upward revision is due to aggressive research and development programs leading to taller towers, next-generation blades and intelligent controls.
As a result, the levelized, unsubsidized cost of wind energy will fall from $55/MWh in 2015 to $31/MWh in 2030. Improved wind project financing structures should push that cost even lower to $23/MWh.
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