Increasing scale, improved efficiency and over-capacity among wind energy hardware manufacturers have combined to push the average price of onshore wind turbines below €1m ($1.36m) per megawatt. The fourth issue of Bloomberg New Energy Finance’s Wind Turbine Price Index shows that fierce downward pressure on prices has continued in recent months in all parts of the world. Bloomberg New Energy Finance analyzed confidential data provided by 28 major purchasers of wind turbines. The sample includes more than 150 undisclosed turbine contracts, totaling nearly 7GW of capacity in 28 markets globally – with a main focus on Europe and the Americas. Dropping turbine prices may be uncomfortable for manufacturers, but it is good news for project developers and it further improves the cost-competitiveness of wind energy compared with gas and coal. Click to view the main conclusions of the analysis.