In Spain, the costs required to produce 1MWh will generate EUR56 of gross added value from wind, as opposed to EUR16 from CCGT, says the study.
Across the six European focus countries (Spain, UK, France, Germany, Portugal and Poland), wind's net cost is competitive and, extrapolated across the UE26, cheaper.
By factoring in returns to GDP, like jobs and local taxes, E&Y's analysis challenges the power sector's levelised cost of energy (LCOE) standard, which always places wind costs higher, mainly due to upfront costs.
Gas is costlier in countries dependent on imports. But even in gas producing UK, E&Y places wind's net cost only slightly above gas, at EUR35/MWh against EUR31/MWh, respectively.
Wind cheaper than gas, says E&Y
EUROPE: The net cost of European wind power is up to 50% lower than that of its main conventional power rival, combined cycle gas (CCGT), according to a comparative study by financial group Ernst & Young (E&Y).
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