According to a U.S Department analysis, wind power will improve so much that the price will become lower than electricity created from gas.
Reductions in cost and advancements in the technology of wind farms will lead to this drop in price. The study states that this will occur even with a $23-per-megawatt-hour subsidy being granted to owners of wind farmers. It is clear that the turbine demand will go up from companies such as Vestas Wind Systems A/S and General Electric Co.
The secretary for science and energy study, Lynn Orr says “Wind offers a power resource that’s already the most competitive option in many parts of the nation,”. Wind power is already prominent in most countries, but it is projected to grow even more. “With continued commitment, wind can be the cheapest, cleanest power option in all 50 states by 2050.” Orr claims on a conference call with reporters.
What would this result in? An increase of wind energy to 35% of U.S energy sources by 2050 would cause a 2.2 percent decline in price. Also, a surprising $400 billion in benefits due to fewer emissions of gas out of greenhouses.
In 2013, wind energy made up 4.5% of the United States power supply. An improvement such as building taller towers will be worth the investment. They will be able to reach stronger winds, and operate on bigger rotors and more advanced control systems. An investment like this would cause immense growth in power supplied by wind farms.
The analysis estimated 10% by 2020, 20% bu 2030, and 35% by 2050. Not only will the percent increase, but the price decrease. Americans will be able to save $149 billion in development and fuel through this expansion of wind power.
To put this into numbers, the operating cost of a wind farm in windy states (such as Iowa and South Dakota) went from $71 a megawatt-hour in 2008 to $45 in 2013. Every 150 meters, cost will continue to decline around 50%.
This increase is also due to unoccupied coal power plants. The demand for wind farms and energy will increase due to the lack of coal-fueled energy. Wind energy will become a significant role in the United States plan to reduce pollution. Adviser to President Obama for climate and energy change, Dan Utech says “As states design plans to reduce carbon pollution from power plants under the Environmental Protection Agency’s clean-power plan, wind energy is going to play an important role.”.
This Clean Power Plan is still under consideration, and does have a “worst-case scenario. They could overestimate the energy being produced by wind farms, causing natural gas prices to increase. However, the plan is going extremely well as of now. Many coal power plants will be very close to retiring, but are safe until wind farms improve.
If the Clean Power Plan is carried through, and wind energy makes up 35% of US electricity in 2050, the energy industry will see immense changes. One main change is the addition of 600,000 jobs in the wind energy profession. Using clean ways of producing energy will also prevent 23,000 premature deaths from air pollution.