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US wind prices fall 66% to record low

UNITED STATES: The price of wind in the US has fallen 66% since 2009 to $0.02/kWh according to research by the US Department of Energy (DoE).

The cost of wind has fallen to a record low in the US
The cost of wind has fallen to a record low in the US

Prices have dropped to an all-time low and are now competitive with wholesale power prices and conventional power sources in much of the country.

This is according to the just-published 2014 Wind Technologies Market Report, by the DoE and the Lawrence Berkeley National Laboratory.

Prices fell last year to $0.0235/kWh for power purchase agreements, a 66% decline since 2009, when prices were nearly $0.07/kWh, said the report.

"Wind energy prices — particularly in the central US — have hit new lows, with utilities selecting wind as the low-cost option," commented Berkeley Lab senior scientist Ryan Wiser.

Wind turbine prices have fallen 20-40% since 2008, the report added.

Projects built in 2014 had an average installed cost of $1,710/kW, nearly $600 less per kilowatt than during the peak in 2009 and 2010.

The industry also supported 73,000 jobs related to development, siting, manufacturing, transportation and other industries, an increase of 22,500 from 2013.

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