Fair winds for wind power

Image: Alessio Sbarbaro  

Image: Alessio Sbarbaro 

"Wind power is now competitive with fossil fuels" writes Kiely Kroh and Jeff Spross for ThinkProgress

“We’re now seeing power agreements being signed with wind farms at as low as $25 per megawatt-hour,” Stephen Byrd, Morgan Stanley’s Head of North American Equity Research for Power & Utilities and Clean Energy, told the Columbia Energy Symposium in late November. Byrd explained that wind’s ongoing variable costs are negligible, which means an owner can bring down the cost of power purchase agreements by spreading the up-front investment over as many units as possible. As a result, larger wind farms in the Midwest are confronting coal plants in the Powder River Basin with “fairly vicious competition.” And even without the production tax credit, wind can still undercut many natural gas plants. A clear sign of its viability, wind power currently meets 25 percent of Iowa’s energy needs and is projected to reach a whopping 50 percent by 2018."

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