Report: Wind Power Could Reach Parity with Gas Power by 2016
POWERnews
Power costs from onshore wind turbines are expected to plunge 12% over the next five years due to the availability of lower-cost equipment and gains in output efficiency—and, in areas offering fair wind conditions, this could make wind power “fully competitive” with power produced from combined cycle gas turbines by 2016, new research from Bloomberg New Energy Finance shows.
The information analysis firm owned by Bloomberg Finance claims that “the best wind farms in the world already produce power as economically as coal, gas and nuclear generators.” The manufacture of onshore wind turbines displays a 7% “experience-curve”— that is a 7% cost reduction for every doubling of installed…