While fossil fuel prices continue to rise, wind energy prices continue to fall. Bloomberg New Energy Finance’s latest Wind Turbine Price Index (WTPI) reports that utility-scale wind power equipment prices hit a new low in the second half of 2011. Prices dropped about 4%.
According to Bloomberg contracts signed in the second half of 2011 for 2013 delivery fell to EUR 0.91m/MW ($1.21/MW), down 4% from six months earlier and well off their five-year high of EUR 1.21m/MW in 2009.
Price drops were largest for older wind turbines, dropping to ”EUR 0.85m ($1.13m) per megawatt on average, down 10% from six months earlier.”
Chinese manufacturers led the competition, even in developing wind power markets across the world, such as Brazil, Chile, Ecuador, Pakistan, Ethiopia and Australia.