BAKU, Azerbaijan, July 14. The global average cost of electricity of new onshore wind projects launched in 2021 decreased by 15 percent year-on-year - from $0.039 per kWh to $0.033 per kWh, Trend reports via the latest publication from the International Renewable Energy Agency (IRENA).
According to the report, the scale of use of onshore wind power was second only to solar photovoltaic (PV), while China remained the leading country for new onshore wind capacity additions in 2021.
“The cost of electricity for new onshore wind projects excluding China fell by a more modest 12 percent year-on-year to $0.037 per kWh. The offshore wind market, saw unprecedented expansion in 2021 (21 GW added), as China increased its new capacity additions and the global weighted average cost of electricity fell by 13 percent year-on-year, from $0.086 per kWh to $0.075 per kWh,” the IRENA said.
Meanwhile, as the report noted, the global weighted average total installed cost of onshore wind from 2010 through 2021 declined by 35 percent - from $2,042 per kW to $1,325 per kW, with a 5-percent decrease year-on-year in 2021.
“Between 1984 and 2021, the global weighted average total installed cost of onshore wind projects fell by 74 percent, from $5,136 per kW to $1,325 per kW. Over this period, global average total installed costs fell by up to 9 percent for every doubling in cumulative onshore wind capacity deployed globally. This decline was driven by wind turbine price and balance-of-plant cost reductions,” the IRENA said.
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