Wind power costs and prices driven to new lows in US

Wind power is enjoying a prime period in the United States, with record low technology costs spurring strong investment, as local production of components helps projects avoid the worst impacts of Trump’s trade war with China that has hit the solar market hard. The Wind Technologies Market Report commissioned by the US Department of Energy, has detailed how the combined installed wind capacity in the US surged towards 100,000MW in 2018, generating US$11 billion worth of investment in new projects. The report was prepared by researchers from the Lawrence Berkeley National Laboratory, who were encouraged by the record low prices achieved by wind projects and the competitiveness of wind power with established electricity sources in the US market. “Wind energy prices ¬– ¬particularly in the central United States, and supported by federal tax incentives – are at all-time lows, with utilities and corporate buyers selecting wind as a low-cost option,” senior scientist at Berkeley Lab Ryan Wiser said. Solar energy projects, which have been heavily reliant on panels procured from dominant Chinese manufacturers, have been caught in the Trump Administration’s trade war with China, copping tariffs as high as 30% on panels imported into the US.