Most studies predict the cost of wind energy will continue to fall through at least 2030, said national laboratory staffers in a new report.
The report, "The Past and Future Cost of Wind Energy," released June 6, is a collaboration among workers from the Lawrence Berkeley National Laboratory and the National Renewable Energy Laboratory, with assistance from European researchers. The crux of the report is that while future trends, drivers and constraints are difficult to predict, the cost of wind-generated electricity will probably continue to decrease in the coming decades.
Onshore wind's levelized cost of energy, or LCOE, fell by a factor of more than three between 1980 and 2000, the researchers said. "However, beginning in about 2003 and continuing through the latter half of the past decade, wind power capital costs increased — driven by rising commodity and raw materials prices, increased labor costs, improved manufacturer profitability, and turbine upscaling — thus pushing wind's LCOE upward in spite of continued performance improvements," they said.
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