Falling Costs in Wind Energy Brings a Remarkable Impact Along With New Challenges
Wind Energy is one of the great sources of electricity in this current era and is highly rational with zero utility executives. Currently, Wind Power is in highly competitive position and offering coming with a great reasonable price than other energy resources.
Latest innovative technology by the engineers have made it possible to build onshore wind-farms half the price of new other gas power stations in the UK; such as the nuclear plant of Hinkley Point C, says a leading engineer.
The modern technology has made thing possible beyond that now developers are able to build power turbine at a guaranteed remarkably low price that may possibly make it subsidy-free for energy bills of the households.
A research report says that the advances in technology would be able to deliver wind power energy at almost around £50-55 per MWh for the coming 15 years. But with these facts comes various challenges that the Government may have to face.
Research also says that the increasing advancement in the sphere of the technology will keep minimizing the building costs of the Wind Energy. In various regions of America, wind energy is already a substantial resource. Since wind energy is now a renewable resource with no fuel cost the price keeps falling. With this low marginal cost of generating wind power, the average clearing prices in many areas in an hour are below $30 per megawatt/ hour. According to LBNL (Lawrence Berkeley National Labs report, long-term projects now hover around a price of almost $20.