16 April 2021
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.
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Experts’ Predictions for Future Wind Energy Costs Drop Significantly
Berkeley Lab-led study shows expected cost declines of 17%-35% by 2035 and 37%-49% by 2050
April 15, 2021
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Technology and commercial advancements are expected to continue to drive down the cost of wind energy, according to a survey led by Lawrence Berkeley National Laboratory (Berkeley Lab) of the world’s foremost wind power experts. Experts anticipate cost reductions of 17%-35% by 2035 and 37%-49% by 2050, driven by bigger and more efficient turbines, lower capital and operating costs, and other advancements. The findings are described in an article in the journal Nature Energy.
The study summarizes a global survey of 140 wind experts on three wind applications – onshore (land-based) wind, fixed-bottom offshore wind, and floating offshore wind. The anticipated future costs for all three types of wind energy are half what experts predicted in a similar Berkeley Lab study in 2015. The study also u
Experts Predict Accelerating Cost Reductions in Offshore Wind Study by wind energy researchers from Lawrence Berkeley National Laboratory and UMass Amherst shows expected cost declines of 17%–35% by 2035 and 37%–49% by 2050
April 15, 2021
Figure 1. Estimates of future levelized costs in best-guess scenario.
Figure 2. Estimated change in levelized costs across all three scenarios. Note: costs for floating offshore wind are compared to a 2019 baseline for fixed-bottom.
Figure 3. Anticipated growth in onshore and offshore turbine size.
AMHERST, Mass. – Wind energy experts, in a study by researchers at Lawrence Berkeley National Laboratory along with Erin Baker of the University of Massachusetts Amherst, predict significant reductions in the cost of wind energy by 2050, according to new research published today in the journal
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