Wind energy projects are getting bigger and less expensiveOctober 5, 2016
As wind farms grow, the cost of wind energy continues to fall
Wind energy is expected to become less expensive in the coming years. According to a survey from the Lawrence Berkeley National Laboratory, energy experts predict that the cost of electricity generated by wind turbines will become as much as 30% less expensive by 2030. Both onshore and offshore projects are becoming less expensive and more efficient. As these energy systems improve, the cost of the electricity they produce is falling dramatically.
Larger wind farms means less expensive energy
One of the reasons wind energy is becoming more affordable is because wind projects are becoming larger. Taller wind turbines are being utilized and the diameter of their rotors is increasing. This allows the turbines to capture more wind, thereby generating more electricity. The cost of wind turbines is also on a decline, making it less expensive to develop large-scale wind projects. As energy systems become less expensive, their adoption is increasing. This is becoming more apparent in developing countries, where the demand for renewable energy is particularly high.
Wind power generated 4.3% of the world’s energy in 2015
At the end of 2015, wind energy provided approximately 4.3% of the world’s electricity needs. Onshore wind farms provided the majority of this energy production. Offshore projects, however, are becoming more popular, especially in countries with access to large expanses on ocean territory. Experts predict that offshore wind energy projects, in particular, will see a massive decrease in cost in the coming years. Onshore projects are expected to remain the least expensive wind energy option through 2030 due to the logistical challenges associated with offshore projects.
Larger wind turbines are becoming more reliable
According to the survey from the Lawrence Berkeley National Laboratory, experts expect the average height of onshore wind turbines will reach 115 meters. These turbines will be able to take advantage of stronger wind currents, allowing them to generate more electricity. A single turbine of this size is expected to generate as much as 3.25 megawatts of energy on a continual basis.