IEA Wind Task 26. Wind Technology, Cost and Performance Trends in Denmark, Germany, Ireland, Norway, the European Union, and the United States. 2007 - 2012

Vitina, Aisma; Silke, Lüers,; Wallasch, Anna-Kathrin; Berkhout, Volker; Duffy, Aidan; Cleary, Brendan; I., Husabø, Lief; Weir, David; Lacal‐Arántegui, Roberto; Hand, M.; Lantz, Eric; Kathy, Belyeu,; Wiser, Ryan; Bolinger, Mark; Hoen, Ben

doi:10.2172/1215292

Cited by 4 publications

(1 citation statement)

References 5 publications

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“…Although LCOE has consistently declined for both onshore and offshore wind in recent years for locations with comparable site conditions (e.g., wind resource regime), significant variation still exists between the costs of projects in different countries or regions. In 2014, the International Energy Agency (IEA) Wind Task 26 estimated onshore LCOE between $58/MWh and nearly $130/MWh using average project characteristics for different countries (Vitina et al, 2015). More recent empirical data summarized and reported by IRENA shows onshore wind energy values ranging from $38/MWh to $107/MWh (IRENA, 2020).…”

Section: Potential Persistent Differences and Variations Around The Globementioning

confidence: 99%

Wind power costs driven by innovation and experience with further reductions on the horizon

Beiter

Cooperman

Lantz

et al. 2021

WIREs Energy & Environment

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The costs of wind power have declined to levels on par with or below those of conventional sources in many parts of the world. Wind power has become one of the fastest‐growing sources of new electricity generation. We take stock of wind power cost evolution over the past 20 years, review methodologies commonly used for cost assessment, discuss the potential for continued cost reduction, and identify anticipated cost and value drivers. Our scope includes both onshore and offshore wind technologies. We draw from a vast body of literature on these topics to highlight key trends, approaches, and limitations. Furthermore, we discuss strategies for wind power assets to enhance their marginal economic value to the broader power system and consumers. We identify a myriad of factors that are expected to influence the future cost and value of wind power, including siting, project scale, turbine size, operational synergies, commodity prices, advancements in turbine technologies, enhanced management of the wind resource, and novel control technologies that provide value for the electricity grid. Because the common methods for forecasting future costs each have their own strengths and weaknesses, we find the best insights are elicited from a combination of methods. Overall, researchers and analysts anticipate further sizable cost reductions for onshore and offshore wind. Midrange forecasts for levelized cost of energy in 2050 are generally between $20 and $30/MWh for onshore wind and $40 and $60/MWh for offshore wind, a reduction to approximately half of today's levels. Optimistic forecasts anticipate these levels as early as 2030. This article is categorized under: Wind Power > Economics and Policy

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Section: Potential Persistent Differences and Variations Around The Globementioning

confidence: 99%

Wind power costs driven by innovation and experience with further reductions on the horizon

Beiter

Cooperman

Lantz

et al. 2021

WIREs Energy & Environment

Self Cite

View full text Add to dashboard Cite

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Assessing the future economic performance of wind generation in conjunction with compressed air energy storage in the new proposed Irish electricity market

Cleary¹

2015

Econom. bus. letters

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The Integrated Single Electricity Market (I-SEM) is the proposed wholesale electricity market for Ireland and it is intended to replace the current market by the end of 2017. Under the I-SEM, wind generation will be exposed to forecast risk and the requirement to be balance responsible. The use of Compressed Air Energy Storage (CAES) could represent a better system configuration which would reduce the reliance on expensive generation for system balancing and reduce the financial risk to wind generation. Thus, the aim of this paper is to estimate the future economic performance of wind generation with and without CAES, in the I-SEM. Specifically, the day-ahead and balancing mechanism system marginal prices are estimated under the I-SEM for various scenarios.

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Electricity Retailing in Norway

Fehr

Hansen²

2009

SSRN Journal

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IEA Wind Task 26. Wind Technology, Cost and Performance Trends in Denmark, Germany, Ireland, Norway, the European Union, and the United States. 2007 - 2012

Cited by 4 publications

References 5 publications

Wind power costs driven by innovation and experience with further reductions on the horizon

Wind power costs driven by innovation and experience with further reductions on the horizon

Assessing the future economic performance of wind generation in conjunction with compressed air energy storage in the new proposed Irish electricity market

Electricity Retailing in Norway

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