From a European, as well as a global perspective, wind power is undergoing rapid development. Within the past 10 years the global installed capacity of wind power has increased from approximately 2.5 GW in 1992 to a little below 40 GW at the end of 2003, with an annual growth rate of around 30%. However, only at few sites with high wind speeds can wind power compete economically with conventional power production at present.
This section focuses on the cost structures of a wind power plant, including the lifetime of the turbine and operation and maintenance costs. Finally, it analyzes how the costs of wind power have developed in previous years and how they are expected to develop in the near future. Wind power is used in a number of different applications, including both grid-connected and stand-alone electricity production, as well as water pumping. This section analyzes the economics of wind energy primarily in relation to grid-connected turbines which account for the vast bulk of the market value of installed turbines.
This section focuses on the cost structures of a wind power plant, including the lifetime of the turbine and operation and maintenance costs. Finally, it analyzes how the costs of wind power have developed in previous years and how they are expected to develop in the near future. Wind power is used in a number of different applications, including both grid-connected and stand-alone electricity production, as well as water pumping. This section analyzes the economics of wind energy primarily in relation to grid-connected turbines which account for the vast bulk of the market value of installed turbines.
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