The cost of wind power could drop by half or more over the next 30 years, allowing wind to play a bigger role in future electricity networks around the world than previously thought, a new paper published in the journal Nature Energy finds. Offshore wind, which is more expensive and therefore much less common than onshore wind, will see the most dramatic price falls. Much bigger turbines will increase the capacity threefold, creating economies of scale that will drive the cost energy per megawatt hour down. Floating offshore wind – currently the rarest and most expensive form of wind power – is predicted to become much cheaper, and could make up a quarter of all offshore developments by 2035.
Renew Economy 16th April 2021 read more »
Wind energy has experienced accelerated cost reduction over the past five years—far greater than predicted in a 2015 expert elicitation. Here we report results from a new survey on wind costs, compare those with previous results and discuss the accuracy of the earlier predictions. We show that experts in 2020 expect future onshore and offshore wind costs to decline 37–49% by 2050, resulting in costs 50% lower than predicted in 2015. This is due to cost reductions witnessed over the past five years and expected continued advancements. If realized, these costs might allow wind to play a larger role in energy supply than previously anticipated.
Nature Energy 15th April 2021 read more »