New Report Shows Technology Advancement and Value of Wind Energy.

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Source: By Berkeley Lab News Release Media Relations. Excerpt: Wind energy continues to see strong growth, solid performance, and low prices in the U.S., according to a report released by the U.S. Department of Energy (DOE) and prepared by Lawrence Berkeley National Laboratory (Berkeley Lab). With levelized costs of just over $30 per megawatt-hour (MWh) for newly built projects, the cost of wind is well below its grid-system, health, and climate benefits. “Wind energy prices ­– ­particularly in the central United States, and supported by federal tax incentives – remain low, with utilities and corporate buyers selecting wind as a low-cost option,” said Berkeley Lab Senior Scientist Ryan Wiser. “Considering the health and climate benefits of wind energy makes the economics even better.” Key findings from the DOE’s annual “Land-Based Wind Market Report” include: Wind comprises a growing share of electricity supply. U.S. wind power capacity grew at a record pace in 2020, with nearly $25 billion invested in 16.8 gigawatts (GW) of capacity. Wind energy output rose to account for more than 8% of the entire nation’s electricity supply, and is more than 20% in 10 states. At least 209 GW of wind are seeking access to the transmission system; 61 GW of this capacity are offshore wind and 13 GW are hybrid plants that pair wind with storage or solar. ...Wind turbine prices are averaging $775 to $850/kilowatt (kW). The average installed cost of wind projects in 2020 was $1,460/kW, down more than 40% since the peak in 2010, though stable for the last three years. The lowest costs were found in Texas.…

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