11 Jun '18, 11am

UK onshore wind to fall below wholesale price by 2023

UK onshore wind to fall below wholesale price by 2023

Instead of needing a subsidy, onshore wind farms would pay back the extra money they receive, saving UK consumers £1.6 billion (€1.82 billion) over the 15-year CfD period, BVG Associates claims . In the renewable energy consultancy’s model of five 1GW auctions being held between 2019 and 2025, prices could fall from £49.90/MWh to £45/MWh. These reductions would take place as turbines become more efficient and more reliable, and also due to the competitive pressure of auctions, the authors of the report, The Power of Onshore Wind, claimed. Better site selection would also help drive down prices, they added. Under the competitive CfD auction process, winners receive a top-up payment — the difference between the market price and the fixed tariff price they bid — to guarantee their income. However, if the market price exceeds the price they bid (the ‘strike price’), generators...

Full article: https://www.windpowermonthly.com/article/1484573/uk-onsho...

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