Chapter 1 The economics of
wind power
Wind
power is capital intensive with most of the investment required upfront. The
largest capital cost component is the turbine itself which can account for
between 40% and 80% of the total capital cost of an onshore wind installation.
Costs offshore are higher because of the more expensive operating environment
and the greater difficulty establishing a foundation so the proportion of
capital cost taken by the turbine is generally lower than onshore. Turbine cost
fell from 1980 until 2002 when prices started to rise again, peaking in 2009
before falling further. Technological advances and greater overall efficiency
are continuing to bring costs down. This is feeding into capital cost trends
which are following turbine prices by falling. There are regional variations in
capital costs, with costs lower in India and China than in Europe or the USA
but regional differences are narrowing as the market becomes more global. With
capital cost the dominant component of the cost of energy, the levelized cost
of electricity from wind plants is falling too and onshore wind is beginning to
compete with other technologies, particularly new coal. There is a growing
consensus that onshore wind will reach parity in many parts of the world by the
end of the decade, if not before. Offshore wind will take longer but could be
competing with the main conventional sources of power by the middle or end of
the third decade of the century.
Chapter 2 Future market and
economic prospects for wind power generation
The
cost of wind power has continued to fall compared to many other technologies
over the past five years and is now approaching the level at which it can
compete with conventional technologies. Power from natural gas and coal remains
cheaper (without carbon capture and storage) but the steady growth in renewable
penetration from both wind and wind power is leading to coal and gas-fired
plants operating for less of the time, a factor which adversely affects their
economics. On the other hand the low cost of wind power is leading governments
to reduce subsidies to wind. By the end of the decade wind power could be the
second cheapest source of electricity after natural gas in many markets. Growth
of wind power is expected to continue strongly in the major markets of Europe,
Asia and North America. Markets in Latin America are advancing more slowly and
wind power in Africa remains a rarity.
Key features of this report
- Analysis of wind power generation technology costs, concepts, drivers and components.
- Assessment of electricity costs for different technologies in terms of the two fundamental yardsticks used for cost comparison, capital cost and the levelized cost of electricity.
- Examination of the key wind power generation technologies costs.
Key benefits from reading
this report
- Realize up to date competitive intelligence through a comprehensive power cost analysis in wind power generation markets.
- Assess wind power generation costs and analysis – including capital costs and levelized costs.
- Quantify capital and levelized cost trends and how these vary regionally.
Key findings of this report
1.
India ($1,080/kW - $1,250/kW) and China ($1,360/kW – 1,370/kW) show the lowest
capital costs and the USA ($1,830/kW) and Brazil ($1,670/kW) the highest..
2.
By 2014 the LCOE for a plan entering service in 2019 had fallen to $204/MWh.
3.
The lowest costs recorded in the table are in India, where the LCOE ranges from
$47/MWh - $113/MWh, and China where the cost is estimated to be $49/MWh -
$93/MWh.
4.
The range of levelized costs found for onshore wind was $75/MWh to $150/MWh.
5.
Offshore wind had a range of $130/MWh – 285/MWh and large solar PV $165/MWh to
$400/MWh.
Key questions answered by
this report
1.
What is wind power generation going to cost?
2.
Which wind power generation technology types will be the winners and which the
losers in terms of power generated, cost and viability?
3.
Which wind power generation types are likely to find favour with manufacturers
moving forward?
Who this report is for
Power
utility strategists, energy analysts, research managers, power sector
manufacturers, wind power developers, investors in renewables systems and
infrastructure, renewable energy developers, energy/power planning managers,
energy/power development managers, governmental organisations, system
operators, companies investing in renewable power infrastructure and
generation, investment banks, infrastructure developers and investors,
intergovernmental lenders, energy security analysts.
Why buy it
- To utilise in-depth assessment and analysis of the current and future technological and market state of wind power, carried out by an industry expert with 30 years in the power generation industry.
- Use cutting edge information and data.
- Use the highest level of research carried out.
- Utilize expert analysis to say what is happening in the market and what will happen next.
- Save time and money by having top quality research done for you at a low cost.
Spanning over 42 pages, “The
Future Cost of Wind Power: Capital costs, the levelized cost of electricity
(LCOE), economics, costs and future outlook for wind power generation” report
covering the Executive summary, The economics of wind power, Future market and
economic prospects for wind power generation.
Know more about this
report at
– http://mrr.cm/4wY
Find all Wind Power Reports at: http://www.marketresearchreports.com/wind-power
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