Onshore wind power more competitive as costs plummet 38%

Posted at November 3, 2012 » By : » Categories : News » Comments Off on Onshore wind power more competitive as costs plummet 38%

Plummeting operation and maintenance costs, down 11% a year since 2008, are making onshore wind power more competitive, according to a report from Bloomberg New Energy Finance (BNEF).

BNEF’s new Wind Operations and Maintenance Price Index shows that the industry is making significant improvements in ongoing operating and maintenance (OM) costs, as well as the capital costs and performance of turbines.

Based on data from 38 major global wind developers, the average price for operation and maintenance of onshore wind farms is now just €19,200 per MW a year, down 38% from the €30,900 per MW required just four years ago.

BNEF’s chief executive Michael Liebreich says technically more advanced turbines, better siting of wind farms and improved management are all driving costs down.

But interestingly, while prices are the most competitive in the US, they remain higher in the UK and Eastern Europe.

“Wind power has done much to improve its competitiveness against gas-fired and coal-fired generation in recent years,” says Liebreich. “This new OM Price Index shows that servicing wind farms at the operating stage is also becoming much more cost-efficient.”

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Related stories:
UK Energy Secretary vows “no change” to government policy on renewable (1-Nov)
Renewables subsidies costing UK households £4, says REA (24-Oct)
British public want more wind farms, according to poll (23-Oct)
Offshore wind costs to drop 30% by 2020, says UK task force (14-Jun)

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