DOE Releases New Reports Highlighting Record Growth & Declining Costs of Wind Power
WASHINGTON, D.C. — The U.S. Department of Energy (DOE) today released three reports showing record growth in land-based wind energy, significant expansion of the pipeline for offshore wind projects, and continued decline in the cost of wind energy generation — laying the groundwork for significant future gains as the Biden Administration pursues rapid acceleration of renewable energy deployment to reach its goal of 100% clean electricity by 2035.
“These reports contain such terrific news: the U.S. installed a record-breaking amount of land-based wind energy last year. They underscore both the progress made and the capacity for much more affordable wind power to come – all necessary to reach President Biden’s goal of a decarbonized electricity sector by 2035,” said Secretary of Energy Jennifer M. Granholm. “At DOE, we will double down on efforts to deploy more wind energy around the country as we also pursue technologies to make turbines even cheaper and more efficient.”
More wind energy was installed in 2020 than any other energy source, accounting for 42% of new U.S. capacity. The U.S. wind industry supports 116,800 jobs.
The 2021 edition of the Land-Based Wind Market Report, prepared by DOE’s Lawrence Berkeley National Laboratory, detailed a record 16,836 megawatts (MW) of new utility-scale land-based wind power capacity added in 2020 – representing $24.6 billion of investment in new wind power projects. Other findings from the report include:
- Wind energy provided more than 10% of total in-state electricity generation in 16 states. Most notably, wind power provided 57% of Iowa’s in-state electricity generation, while wind provided more than 30% of electricity in Kansas, Oklahoma, South Dakota, and North Dakota.
- New utility-scale land-based wind turbines were installed in 25 states in 2020. Texas installed the most capacity with 4,137 MW. Other leading states include Iowa, Oklahoma, Wyoming, Illinois, and Missouri — all of which added more than 1,000 MW of capacity in 2020.
- Wind turbines continue to grow in size and power, leading to more energy produced at lower costs. The average nameplate capacity of newly installed wind turbines grew 8% from 2019 to 2.75 MW.
- Wind turbine prices have steeply declined from levels seen a decade ago, from $1,800/kW in 2008 to $770–$850 per kilowatt (kW) now.
- The health and climate benefits of wind energy installed in 2020 were valued at $76 per MWh, far greater than the cost of wind energy.
The 2021 edition of the Offshore Wind Market Report, prepared by DOE’s National Renewable Energy Laboratory, found that the pipeline for U.S. offshore wind energy projects grew to 35,324 MW, a 24% increase over the previous year. Other details of the report include:
- The Bureau of Ocean Management created five new wind energy areas in the New York Bight with a total of 9,800 MW of capacity, representing most of the 2020-2021 growth of the U.S. pipeline.
- The Block Island Wind Farm (30 MW) off the coast of Rhode Island and the Coastal Virginia Offshore Wind pilot (12 MW) are the first two projects operating off U.S. coasts. Massachusetts’ Vineyard Wind I became the first approved commercial-scale offshore wind energy project in the United States.
- Massachusetts, North Carolina, and Virginia all increased offshore wind procurement targets in 2020 and early 2021. In total, state goals grew by 15,600 MW, from about 24,000 MW by 2035 in 2019 to almost 40,000 MW by 2040.
The 2021 edition of the Distributed Wind Market Report, prepared by DOE’s Pacific Northwest National Laboratory, noted that eleven states added a total of 14.7 MW of capacity, 1,493 turbines, and $41 million for new investment in distributed wind installations in 2020.
- Cumulative U.S. distributed wind capacity stands at 1,055 MW from more than 87,000 wind turbines across all 50 states, Puerto Rico, the U.S. Virgin Islands, and Guam.
- Agricultural and residential customers accounted for the largest percentage of distributed wind projects installed in 2020 (36% and 24%, respectively), while utility and industrial customers accounted for the largest share of distributed wind capacity installed (58% and 37%, respectively).
- Small wind retrofits — new turbines installed on existing towers and foundations — have become more common, accounting for 80% of small wind capacity installed in 2020.
Land-Based Wind Market Report: 2021 Edition
The three market reports are available at energy.gov/windreport. To learn more about DOE’s wind energy research, visit the Wind Energy Technologies Office homepage.
Article courtesy of office of Energy Efficiency & Renewable Energy.
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Chevron is not seeing signs that the U.S. is close to a recession even as President Donald Trump’s tariffs weigh on expectations for oil demand, CEO Mike Wirth said Tuesday.
“There’s no signs that we see at this point that we are in or close to a recession,” Wirth told CNBC’s “Squawk Box.” “There are signs that growth may be slowing and we have to always be prepared for that.”
The International Monetary Fund on Monday cut its growth outlook for the U.S. this year to 1.8%, down from 2.7% previously.
The oil market is expecting reduced demand as a consequence of Trump’s tariffs and the decision by OPEC+ increase production faster than expected, Wirth said. Chevron isn’t changing its capital spending plans in response to drop in prices, the CEO said.
U.S. crude oil prices have fallen about 11% since Trump announced his tariffs on April 2. West Texas Intermediate was last up about 72 cents at $63.80 per barrel. OPEC and the International Energy Agency have cut their demand outlooks for this year.
Wirth said U.S. onshore oil production in patches like the Permian Basin is likely to pull back if prices hit $60 per barrel. Offshore production likely won’t be affected, he said.
“That’s an area where if we were to be at a $60 price or even lower you’re likely to see activity pull back in this sector and you’ll see the production response over a few months,” Wirth said. “That’s what we should watch, not so much the deep water activity.”
Chevron is not expecting a major direct impact on its business from Trump’s tariffs as energy has largely been exempt from the levies, Wirth said.
“The effects that we feel are likely to be more the macroeconomic effects as they flow through the economy,” Wirth said. “The bigger issues would be what would it mean for growth, and global trade and how does that evolve.”
Executives at oil and gas companies were scathing in their criticism of Trump’s tariffs in an anonymous March survey by the Federal Reserve Bank of Dallas, warning that steel tariffs were raising their costs and low prices could impact their activity.
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Little is known about super-secretive EV startup Slate, but the fledgling brand is rumored to be backed by Jeff Bezos and determined to shake up the existing electric order with an affordable lineup of compact SUVs and pickups with that golden $25,000 price tag.
Now, at least, we know what it’s gonna look like. The battle of the billionaires is on!
Redditor jonjopop over at the spotted subreddit spotted what looks like an early prototype of an unbranded SUV with bizarre “CryShare” wrap. CryShare, as a concept, seems to combine the functionality of a ride sharing app like Uber or Lyft with the familiar (to parent, anyway) idea that small babies will often sleep better in a moving car than in their own cribs … but that’s not what’s important here.
Instead, focus on the vehicle itself – parked on Abbot Kinney Boulevard in Los Angeles without explanation or fanfare, this is our best look yet at the kind of vehicle(s) Slate is likely to reveal in the coming days.
Stumbled upon the Bezosmobile [Slate Automotive…idk?] being revealed with an absolutely bizarre marketing campaign
byu/jonjopop inspotted
Other local automotive journalists caught wind of the public unveiling, too – and our friends at The Autopian (Hi, Matt!) sent their own David Tracy out on the streets of LA to check it out. Tracy took the following video and posted it to Instagram.
The Slate breaking cover and causing buzz just ahead of what’s sure to be a painful Q1 earnings call for Tesla is a masterstroke of marketing – especially as doubts surrounding the viability of a “less expensive” Tesla Model Y or Model 3 continue to mount amid the uncertainty of Trump’s tariffs and declining sales of the brand’s more profitable models both at home and abroad.
As with so much involving Slate, however, there is nothing here written in stone – or even cast in cheese. Nothing has been announced, nothing is promised, and for all we know this might have more to do with the affordable Rivian brand launch, a new BYD, or be a viral marketing bit from some local Art Center design student in (relatively) nearby Pasadena. In fact, about the only thing I think we can say about Bezos (?) new Slate project with confidence today is this: Elon could probably use that drink.
SOURCES | IMAGES: Reddit, The Autopian.
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