November’s COP22 climate summit of Marrakech gave climate policy fresh tailwind, after the blow of Donald Trump’s election. Even without a strong global treaty, national climate policies are multiplying?—?at least a certain type of policies. While the policy that economists often recommend?—?putting a price on greenhouse gas emissions?—?remains patchy, as a recent Worldbank report shows, … Continue reading On the economics of wind energy and solar power
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Offshore wind energy industry steams ahead with cost reduction
The Netherlands’ Minister of Economic Affairs has today awarded the consortium made up of Shell, Van Oord, Eneco and Mitsubishi/DGE the concession to build the offshore wind farms Borssele III and IV (700 MW). The winning bid came in at € 54.5/MWh excluding the cost of grid connection. This is 25% lower than for Borssele … Continue reading Offshore wind energy industry steams ahead with cost reduction
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Experts anticipate significant continued reductions in wind energy costs
Technology advancements are expected to continue to drive down the cost of wind energy, according to a survey of the world’s foremost wind power experts led by Lawrence Berkeley National Laboratory (Berkeley Lab). Experts anticipate cost reductions of 24%-30% by 2030 and 35%-41% by 2050, under a median or ‘best guess’ scenario, driven by bigger … Continue reading Experts anticipate significant continued reductions in wind energy costs
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Just how much lower can wind power costs drop?
If you’ve been doing your homework, then by now you should know that wind power in the U.S. is on sale. Thanks to performance-based tax policy (the bipartisan-supported Production Tax Credit) attracting new investment and driving innovation, wind power’s costs dropped by two-thirds over just six years. Now you can start studying for your next … Continue reading Just how much lower can wind power costs drop?
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European wind energy is now cheaper than nuclear power
Wind energy has officially overtaken nuclear power as the most affordable energy option – at least in countries surrounding the North Sea. In nearby European nations, the cost of wind is now 30 percent lower than nuclear, a promising development in the push for renewable energy around the world. At the rate of present installations, … Continue reading European wind energy is now cheaper than nuclear power
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Siemens presents cost out strategy for offshore wind energy by 2025
In early June, 2016, eleven members of the wind industry association Wind Europe issued a joined declaration containing the target of making offshore wind energy more cost competitive with conventional power generation within the coming years. At the Global Offshore Wind 2016 conference and exhibition in Manchester, England, Siemens as one of the first companies … Continue reading Siemens presents cost out strategy for offshore wind energy by 2025
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Average Costs for Solar Power and Wind Energy Electricity Could Fall 59% by 2025
The average costs for electricity generated by solar and wind technologies could decrease by between 26 and 59 per cent by 2025, according to a report released today by the International Renewable Energy Agency (IRENA). The average costs for electricity generated by solar and wind technologies could decrease by between 26 and 59 per … Continue reading Average Costs for Solar Power and Wind Energy Electricity Could Fall 59% by 2025
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Top 3 ways to reduce the cost of wind turbine operations and maintenance
It is necessary to optimize the performance of existing, aging wind turbine plants so as to reduce their operational and maintenance costs. The reliability of turbines decreases with age and the unavailability of or difficulty in finding the required spare parts for old models can greatly increase the operations and maintenance cost. The biggest challenge … Continue reading Top 3 ways to reduce the cost of wind turbine operations and maintenance
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Renewables bring down the wholesale cost of energy
The report has been published today by independent energy company Good Energy and is backed by experts at the University of Sheffield. It follows recent announcements by the Government that it will cut subsidies for renewables such as solar and wind in order to keep bills as low as possible for families and businesses. Good … Continue reading Renewables bring down the wholesale cost of energy
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Wind energy and solar power boost cost-competitiveness versus fossil fuels
This year has brought a significant shift in the generating cost comparison between renewable energy and fossil fuels, according to detailed analysis by technology and region, published this week by Bloomberg New Energy Finance. The research company’s Levelised Cost of Electricity Update for the second half of 2015, based on thousands of data points related … Continue reading Wind energy and solar power boost cost-competitiveness versus fossil fuels
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New Foundation Design Could Reduce Costs Of Offshore Wind Energy
DONG Energy and partners recently completed one of the most comprehensive programmes of offshore monopile testing testing ever undertaken. In total, 28 monopiles — the most typical foundation architecture used to support offshore wind turbines — were tested to assess and validate a new structural design method developed by the PISA (Pile Soil Analysis) academic … Continue reading New Foundation Design Could Reduce Costs Of Offshore Wind Energy
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Concentrated Solar Power would need to meet 8%-10% of global electricity demand by 2050
The best sites are between 10° and 40°, South or North. As you can see in the chart below, this makes a huge difference, a CSP in Chile might cost half as much as one in Spain. Locating a plant with a solar irradiance of 2,700 kWh/m2 would decrease the generation cost by 25% compared with … Continue reading Concentrated Solar Power would need to meet 8%-10% of global electricity demand by 2050
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Misconceptions on wind energy costs in UK
A new survey commissioned by RenewableUK has revealed that the UK public have considerable misconceptions about the cost of wind power, believing subsidies to be 14 times more than they actually are. Marketing research firm OnePoll carried out the survey and questioned 2,000 adults in the UK. According to survey, the average customer thinks … Continue reading Misconceptions on wind energy costs in UK
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Photovoltaic reduces costs
China’s large PV market share is mostly involved with technologies that are well-established. Many PV module manufacturers have the ability to buy turnkey production lines. And while China’s PV manufacturers get a lot of respect for what they do, their well-established product dumping policies result in production with not a lot of gross margin, if … Continue reading Photovoltaic reduces costs
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Solar energy and wind power will be the cheapest forms of energy
A new study demonstrates that an energy system based completely on renewable forms of energy will be economically viable in the future. Research done at Lappeenranta University of Technology (LUT) shows that it will be worthwhile for North-East Asia, and China in particular, to switch to a completely renewable energy system within 5–10 years. … Continue reading Solar energy and wind power will be the cheapest forms of energy
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The cost of wind energy and solar power keeps dropping
A new study from the International Renewable Energy Agency laying it out in detail. Large wind power farms got cheaper between 2010 and 2014. Large-scale solar power got a lot cheaper. And at least some renewable plants are even becoming competitive with new fossil-fuel plants: The chart shows the “levelized cost of electricity” for different … Continue reading The cost of wind energy and solar power keeps dropping
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Renewable energy now cost advantageous, especially when cost of pollution is factored in
The cost of generating power from renewable energy sources has reached parity or dropped below the cost of fossil fuels for many technologies in many parts of the world, the International Renewable Energy Agency (IRENA) revealed in a new report today. The landmark report, Renewable Power Generation Costs in 2014, concludes that biomass, hydropower, … Continue reading Renewable energy now cost advantageous, especially when cost of pollution is factored in
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Renewable energy costs in 2014: Wind energy and solar power now cheaper than fossil
The cost of generating power from renewable energy sources has reached parity or dropped below the cost of fossil fuels for many technologies, the International Renewable Energy Agency (Irena) has revealed. Irena’s “Renewable Power Generation Costs in 2014” report concludes that biomass, hydropower, geothermal and onshore wind are all competitive with or cheaper than coal, … Continue reading Renewable energy costs in 2014: Wind energy and solar power now cheaper than fossil
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Levelized Cost Of Electricity: Solar power and wind energy are rapidly becoming competitive
Solar power and wind energy are rapidly becoming competitive with conventional electric generating technologies like natural gas and coal. At least that is what many of Wall Street’s most esteemed investment firms seem to be telling anyone willing to listen to them. Last week, Diane Cardwell, a reporter at the New York Times, did just … Continue reading Levelized Cost Of Electricity: Solar power and wind energy are rapidly becoming competitive
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Solar Energy Will Be as Cheap as Fossil Fuel Energy by 2016
A new study on solar energy from Deutsche Bank bears very good news. Thanks to technology and innovation, solar energy will be just as cheap as energy from fossil fuels by 2016. That’s basically tomorrow, and it’s awesome. We have a few people to thank for this encouraging turn of events. One is Uncle Sam. … Continue reading Solar Energy Will Be as Cheap as Fossil Fuel Energy by 2016
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