Advancements in wind technology are driving wind energy costs to all-time lows, according to a new report by the U.S. Department of Energy.
According to the Department of Energy’s “Wind Technologies Market Report,” larger turbines are boosting performance, while low turbine pricing is pushing down project costs. In 2018, the average generating capacity of new turbines was 2.4 megawatts, a 239 percent increase over 20 years.
These turbines had an average rotor diameter size of 116 meters, a 141 percent increase from 1998–1999, with an average hub height of 88 meters, a 57 percent increase. The sizes of turbines are only expected to increase in the coming years.
Meanwhile, the average cost of installed projects in 2018 was $1,470 per kilowatt, a 40 percent decline since 2009–2010.
Another factor in the affordability of wind energy is the price of wind energy itself, which has reached a historic low, at 2 cents per kilowatt hour, compared with 7 cents in 2009.
Overall, there was $11 billion invested in new wind power plants last year, with 7,588 megawatts of wind power capacity additions. Wind energy constituted 6.5 percent of the nation’s energy supply, more than 10 percent of total electricity generation in 14 states, and more than 30 percent in three of those states.
Wind energy prices — particularly in the central United States, and supported by federal tax incentives — are at all-time lows, with utilities and corporate buyers selecting wind as a low-cost option, said Berkeley Lab Senior Scientist Ryan Wiser.
To read the full report, click here.