Report: Lower cost of utility-scale wind contributes to rapid growth

02/3/2013 | SNL Financial (free content)

U.S. capacity for non-hydro renewables grew from 44 gigawatts in 2008 to 86 gigawatts last year and natural gas generation rose to 442 gigawatts during the same period because of sharp declines in cost, according to a report from Bloomberg New Energy Finance. The cost of electricity from a utility-scale wind farm fell from $90 per megawatt-hour in 2009 to $80 per megawatt-hour in 2012, excluding tax incentives, the report said. "You can sign quite low-priced power purchase agreements if you are a wind developer and you have the [wind-energy Production Tax Credit] in place," said Ethan Zindler of Bloomberg New Energy Finance.

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