08/14/2013

Wind Energy Costs Near All-Time Low

 
Annual wind power additions boomed to a record level last year.

Annual wind power additions boomed to a record level last year while prices plummeted close to an all-time low, according to a new DOE report by Lawrence Berkeley National Laboratory.

About 13.1 gW of new wind power capacity were added to the grid in 2012, due in large part to federal tax incentives scheduled to expire at the end of that year. At the same time, projects negotiating contracts with utilities averaged a price of $40 per mWh, which spurred demand. In fact, the cost of wind energy now rivals the lows set in 2003, especially in the central U.S.

However, low gas prices and continued policy uncertainty are creating headwinds for the industry, though a short-term extension of the tax incentives has delayed their expiration.

Other revelations in the study include:

  • Wind power comprised 43% of all new electric capacity additions in the U.S. in 2012.
  • Since 1998-99, the average capacity of wind turbines installed in the US has increased by 170%, reaching 1.94 mW in 2012. Additionally, the average turbine hub height has increased to 94 meters (a 96% jump). This means it has become more economical to build projects in areas with lower wind speeds.
  • Turbine prices have fallen 20-35% from their 2008 highs, pushing project costs down almost $200 per kW from the reported average cost in 2011.
 

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When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.

Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.


Mitsubishi Electric’s H2i R2-Series heat pumps provide 100% heating capacity down to 0° F and simultaneous heating and cooling down to -4° F delivering year-round comfort, regardless of climate zone.

 
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