IEA Wind TCP Task 26–Wind Technology, Cost, and Performance Trends in Denmark, Germany, Ireland, Norway, Sweden, the European Union, and the United States: 2008-2016
The International Energy Agency Wind Technology Collaboration Programme (IEA Wind TCP) Task 26 - The Cost of Wind Energy represents an international collaboration dedicated to exploring the past, present, and future cost of wind energy. The countries that are currently represented by participating organizations in IEA Wind TCP Task 26 included in this report are Denmark, Germany, Ireland, Norway, Sweden, the European Union, and the United States. This report discusses trends from 2008 through 2016 that affected the cost of land-based wind energy in each country. The cost of wind energy during this period is compared with the market value of wind energy in the respective electricity market for each country. This report builds from previous analysis conducted since the inception of Task 26 in 2009. Schwabe et al. (2011) explored differences in the cost of wind energy in 2008 among countries participating in Task 26 at that time. Vitina et al. (2015) presented turbine- and project-level trends in the wind industry from 2008 to 2012, including wind project size, turbine size, specific power and hub height, project performance, investment costs, operation and maintenance (O&M) costs, and project financing. These inputs are used to calculate the levelized cost of energy (LCOE), a widely recognized metric for understanding how technology performance, capital investment, operations, and financing impact the life cycle cost of building and operating a wind project. Both prior reports - as well as this report - used this metric to estimate the cost of wind energy.