Lawrence Berkeley National Laboratory: Report Highlights Technology Advancement, Value of Wind Energy
- Aug 17, 2022 4:23 pm GMT
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Wind energy continues to see strong growth, solid performance, and attractive prices in the
"Wind energy prices - particularly in the central
Key findings from
* Wind comprises a growing share of electricity supply.
* Wind project performance has increased over the decades. The average capacity factor (a measure of project performance) among recently completed projects was nearly 40%, considerably higher than projects built earlier. The highest capacity factors are seen in the interior of the country.
* Turbines continue to get larger. Improved plant performance has been driven by larger turbines mounted on taller towers and featuring longer blades. In 2011, no turbines employed blades that were 115 meters in diameter or larger, but in 2021, 89% of newly installed turbines featured such rotors. Proposed projects indicate that total turbine height will continue to rise.
* Low wind turbine pricing has pushed down installed project costs over the last decade. Wind turbine prices averaged
* Wind energy prices have risen, but remain low, around
* Wind prices are often attractive compared to wind's grid-system market value. The value of wind energy sold in wholesale power markets is affected by the location of wind plants, their hourly output profiles, and how those characteristics correlate with real-time electricity prices and capacity markets. The market value of wind increased in 2021 and varied regionally from below
* The average levelized cost of wind energy was
* The health and climate benefits of wind in 2021 were larger than its grid-system value, and the combination of all three far exceeds the current levelized cost of wind. Wind generation reduces power-sector emissions of carbon dioxide, nitrogen oxides, and sulfur dioxide. These reductions, in turn, provide public health and climate benefits that vary regionally, but together are economically valued at an average of over
The full Land-Based Wind Market Report: 2022 Edition, a presentation slide deck that summarizes the report, several interactive data visualizations, and an Excel workbook that contains the data presented in the report, can be downloaded from windreport.lbl.gov. Companion reports on offshore wind and distributed wind are also available from the
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