Wind power is now cost competitive with coal power in many parts of the world, according to a new report by Bloomberg New Energy Finance.
Over the past few years, as demand for wind turbines has grown, manufacturers have lowered their prices, meaning the cost of wind power has fallen and will likely continue to remain competitive with fossil fuel power. The Bloomberg study says that last year the cost per megawatt for turbines hit $1.33 million, which is 17 percent less than in 2007.
In regions of Brazil, Mexico, Sweden and the U.S., wind power now costs $68/MWh and coal power costs $67/MWh. Natural gas remains cheapest at $56/MWh.
This is great news for the future of wind power generation. If it costs the same as or less than fossil fuels, more people will realize that the choice is obvious.
written by John Donnelly, February 08, 2011
written by Alex Schoenfeldt, February 09, 2011
written by Penko Penev, February 14, 2011
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