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The 12th annual Cost of Wind Energy Review, now presented as a slide deck, uses representative utility-scale and distributed wind energy projects to estimate the levelized cost of energy (LCOE) for land-based and offshore wind power plants in the United States.
National wind energy R&D budget CAD $9,678,000 Table 1. Key National Statistics 2022: Canada • Wind-generated electricity set a new record of 39 TWh, reaching a share of national electricity demand of 6.6%. • Wind turbines with a nominal capacity of over 5 MW were deployed for the first time in Alberta and Saskatchewan.
for Canada-specific estimated costs for key renewable energy technologies that extends beyond direct use of U.S. benchmarks. The analysis covers: • Technologies: Solar, Wind and Energy Storage (4-hour, and 8-hour) + SGCT and CCGT for benchmarking • Provinces: Ontario and Alberta • Timeframe: Annual forecast for 2022 to 2035
Canada now has an installed capacity of 21.9 GW of wind energy, solar energy and energy storage installed capacity. The industry added 2.3 GW of new installed capacity in 2023, including more than 1.7 GW of new utility-scale wind, nearly 360 MW of new utility-scale solar, 86 MW of new on-site* solar, and 140 MW / 190 MWh of energy storage.
During 2021, 677 MW of new wind capacity was installed in Canada. c recovery. Wind produc-tion reached over 36 TWh of electric-ity generated, representing a 0.2% decrease from product. Highlight(s) 677 MW of new capacity online in 2021 – a high increase from 2020, almost reaching the record level of 2016.
In 2017, the capital cost for a utility scale wind and solar project in Canada was C$1600/kW and C$1800/kW, respectively. In the Reference Case, the capital cost of wind and solar declines to C$1200/kW and C$1100/kW, respectively.
The average cost of new projects in 2022 was roughly 1,775 CAD/kW (1,207 EUR/kW; 1,312 USD/kW). The average turbine capacity across all projects installed in 2022 was 4.55 MW. The first projects in Canada with turbines greater than 5 MW each were installed in 2022.
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