The BNEF study shows that the global average levelised cost of electricity, or LCOE, for onshore wind nudged downwards from $85 per megawatt-hour in the first half of the year, to $83 in H2, while that for crystalline silicon PV solar fell from $129 to $122.
Growth in Wind Consumption for Top 20 Countries
Contributed by | Kodig
Kodig analyzed the top 20 countries with the most wind consumption & then ranked the countries with the highest growth rate from 2010 to 2014. The below table shows the ranking
|
Rank |
Country |
2010 to 2014 Growth |
2010 (Terawatt Hours) |
2011 |
2012 |
2013 |
2014 |
|
1 |
Romania |
1544% |
0.3 |
1.4 |
2.6 |
4.5 |
4.7 |
|
2 |
Mexico |
575% |
1.3 |
1.6 |
3.6 |
5.6 |
7.2 |
|
3 |
Brazil |
549% |
2.2 |
2.7 |
4.9 |
6.5 |
11.9 |
|
4 |
Poland |
461% |
1.7 |
3.2 |
4.7 |
6.0 |
7.7 |
|
5 |
Belgium |
349% |
1.3 |
2.3 |
2.8 |
3.6 |
4.5 |
|
6 |
Sweden |
330% |
3.5 |
6.1 |
7.2 |
9.9 |
11.5 |
|
7 |
United Kingdom |
311% |
10.2 |
15.5 |
19.7 |
28.4 |
31.6 |
|
8 |
Turkey |
287% |
2.9 |
4.7 |
5.9 |
7.6 |
8.4 |
|
9 |
US |
192% |
95.6 |
121.4 |
142.2 |
169.5 |
183.6 |
|
10 |
Austria |
188% |
2.1 |
1.9 |
2.5 |
3.2 |
3.9 |
|
11 |
Republic of Ireland |
183% |
2.8 |
4.4 |
4.0 |
4.5 |
5.1 |
|
12 |
France |
172% |
9.4 |
11.6 |
14.3 |
15.2 |
16.2 |
|
13 |
Denmark |
167% |
7.9 |
9.9 |
10.4 |
11.2 |
13.2 |
|
14 |
Italy |
165% |
9.1 |
9.9 |
13.4 |
14.9 |
15.1 |
|
15 |
Greece |
155% |
2.7 |
3.3 |
3.8 |
4.1 |
4.2 |
|
16 |
Germany |
148% |
37.8 |
48.9 |
50.7 |
51.7 |
56.0 |
|
17 |
Netherlands |
145% |
4.0 |
5.1 |
5.0 |
5.6 |
5.8 |
|
18 |
Portugal |
132% |
9.2 |
9.2 |
10.3 |
12.0 |
12.1 |
|
19 |
Canada |
131% |
8.6 |
10.1 |
11.2 |
11.5 |
11.3 |
|
20 |
Spain |
118% |
44.2 |
42.4 |
49.5 |
53.9 |
52.3 |
The highest ranking country is Romania with a 1544% growth rate primarily because they started with such a low base. The growth in Romania was because of strong government incentives of giving green certificates for using renewable energy sources. However, in recent years that support was curtailed & led to losses for wind energy investors in Romania. This led to fewer investments in Wind in the most recent year. Bloomberg last reported that the Romanian government will plan to change policies for more wind related investments:
The Romanian government is considering changes to a support program for renewable energy after a cut in incentives last year made many wind and solar power projects unprofitable.
Energy Minister Andrei Gerea said the cabinet in Bucharest is talking with companies and the energy-market regulator about a solution that would make investments in renewable energy “profitable again.”. Until new incentives are announced, companies such as CEZ AS, Enel SpA and GDF Suez have put investment plans on hold, according to officials from the three companies. “Romania is not yet in a situation to say: OK, we met our 2020 renewable energy goal, and that’s it,” Gerea told reporters in Bucharest. “We have to continue to invest in capacities because we can export and get money.”
The US had one of the most impressive growth rates in wind energy despite the large starting base of 95.6 Terawatt hours in 2010. They nearly doubled the consumption to nearly 183.6 terawatt hours in 2014. Across the globe, the trends are likely to accelerate towards wind & renewable energy sources as their Levelised Cost Of Electricity (LCOE) catches up to fossil fuels.
A recent report from Bloomberg New Energy Finance nicely summarizes the trends:
The research company’s Levelised Cost of Electricity Update for the second half of 2015, based on thousands of data points related to individual deals and projects around the world, shows that onshore wind and crystalline silicon photovoltaics – the two most widespread renewable technologies – have both reduced costs this year, while costs have gone up for gas-fired and coal-fired generation. The BNEF study shows that the global average levelised cost of electricity, or LCOE, for onshore wind nudged downwards from $85 per megawatt-hour in the first half of the year, to $83 in H2, while that for crystalline silicon PV solar fell from $129 to $122. In the same period, the LCOE for coal-fired generation increased from $66 per MWh to $75 in the Americas, from $68 to $73 in Asia-Pacific, and from $82 to $105 in Europe. The LCOE for combined-cycle gas turbine generation rose from $76 to $82 in the Americas, from $85 to $93 in Asia-Pacific and from $103 to $118 in EMEA.
About Kodig
Kodig leverages crowd sourced opinions, research & analysis to provide unique insights on niche topics.
The content & opinions in this article are the author’s and do not necessarily represent the views of AltEnergyMag
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