Watch: Wind Power Is Growing As Price Drops

Until now, the U.S. offshore wind industry has been slow to develop, with only one operational project, with a power purchase agreement price of $0.244/kWh. T he newest numbers reported by Lazard (The high end of the levelized cost for energy) for onshore wind, are estimated at $0.06/kWh, or for natural gas, at $0.078/kWh. Wind builders are perfecting methods of identifying where the best winds are. As the U.S. offshore wind sector works to lower prices, it is developing off the coast of several Northeastern states. Vestas just announced it will invest millions of dollars to test its 9.5 MW wind turbines at South Carolina’s Clemson University testing facility, that is what will ultimately bring prices down.

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