10 Nov '11, 10am

#BNEF finds #onshorewind energy to reach parity with fossil-fuel electricity by 2016 - Read more here

London and New York, 10 November 2011 – The cost of electricity from onshore wind turbines will drop 12% in the next five years thanks to a mix of lower-cost equipment and gains in output efficiency, according to new research from Bloomberg New Energy Finance. The best wind farms in the world already produce power as economically as coal, gas and nuclear generators; the average wind farm will be fully competitive by 2016. The wind team at Bloomberg New Energy Finance estimates that manufacture of onshore wind turbines displays a 7% “experience-curve” – that is a 7% cost reduction for every doubling of installed capacity – as economies of scale and supply chain efficiencies reduce costs. Global average turbine prices have fallen in real terms from EUR 2.0m/MW in 1984 to below EUR 0.88m/MW in H1 2011. In 1984, there were only 0.3GW of installed wind capacity in the world, bu...

Full article: http://www.bnef.com/PressReleases/view/172

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