Cheap Wind Energy

Wind Power Cheaper than Coal

Written by Green Chip Stocks
Posted February 4, 2013 at 7:05PM

Wind will be at the centre of Europe’s power needs, meeting 50% of electricity demand by 2050, Robert Clover from MAKE Consulting said today. Moreover, “after 2020 wind is the cheapest technology, it is scaleable and it has minimal water requirements,” he added.

Speaking at EWEA’s 2013 Annual Event in Vienna, Clover said onshore wind will achieve parity with other electricity-generating technologies feeding into the grid in Europe by 2015, followed by offshore in 2022/2023.

Clover’s opinion was backed by several high-level speakers at EWEA 2013 including Fatih Birol, Chief Economist at the International Energy Agency, who said that almost all onshore wind projects in Europe will be fully competitive with gas very soon.

Clover added another element to the cost of energy debate by saying that if carbon capture and storage (CCS) technology is added to thermal generation, then costs could rise by up to another 50%.