November 15, 2011
By: Stephen Lacey
Wind Electricity To Be Fully Competitive With Natural Gas by 2016, Says Bloomberg New Energy Finance
Stephen Lacey of Climate Progress (link to: http://thinkprogress.org) writes:
"From Justin Wu, lead wind analyst at Bloomberg New Energy Finance, said: “The public perception of wind power tends to be that it is environmentally-friendly, but expensive and intermittent. That is out-of-date — in the best locations, where generation is already cost-competitive with fossil fuel electricity, and that will be the case for the majority of new onshore turbines installed worldwide by 2016."
“The press is reacting to the recent price drops in solar equipment as though they are the result of temporary oversupply or of a trade war. This masks what is really going on: a long-term, consistent drop in clean energy technology costs, resulting from decades of hard work by tens of thousands of researchers, engineers, technicians and people in operations and procurement. And it is not going to stop: In the next few years the mainstream world is going to wake up to wind cheaper than gas, and rooftop solar power cheaper than daytime electricity. Add in the same sort of deep long-term price drops for power storage, demand management, LED lighting and so on – and we are clearly talking about a whole new game,” Wu added.