November 07, 2011
It wasn’t all that long ago when wind turbines were not only expensive, they could barely be had at any price, such was the boom in development and shortage of machines.
Now, renewable energy researchers have studied the current market and discovered prices have fallen sharply. One might think the reasons are as simple as supply and demand, given wind’s slump over the past couple years, but the dynamics are a little more complicated.
Since 2008, wind turbine prices in the U.S. have fallen by nearly one-third on average. The benefits, combined with improved turbine design and performance, are that falling turbine prices enable the latest generation of wind power projects to profitably sell electricity at lower prices.
The report, “Understanding Trends in Wind Turbine Prices Over the Past Decade,” was written by Mark Bolinger and Ryan Wiser of Lawrence Berkeley National Laboratory.
The renewablesbiz story can be found here.
The LBNL report can be found here.