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  1. • This review also provides an update to the 2021 Cost of Wind Energy Review (Stehly and Duffy 2022) and examines wind turbine costs, financing, and market conditions. The analysis includes: − Estimated LCOE for a representative land-based wind energy project installed in a moderate wind resource

  2. The 11th annual Cost of Wind Energy Review, now presented in slide deck format, 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.

  3. Total wind energy investment in Illinois to date is over $13.7 billion of which approximately $57.9 million is in state and local taxes and $47 million is in land lease payments. Across the state, wind energy provides economic benefits to workers, residents, governments, and local economies.

  4. Wind turbines continued to grow in size and power, with the average nameplate capacity of newly installed wind turbines at 3 MWup 9% from 2020 and 319% since 1998−1999. The combined health, climate, and grid-system benefits of wind are more than 3 times its levelized cost of energy.

  5. These figures include wind turbine (e.g., wind turbine components), balance of system (e.g., development, electrical infrastructure, assembly, and installation), and financial costs (e.g., insurance and construction financing).

  6. ipa.illinois.gov › power-hour-10-the-state-of-wind-energy-121523-909AMThe State of Wind Energy - Illinois

    State & Corporate Demand for Wind. Wind Power Capacity by Offtake Arrangement. December 2023 10. 1. Corporate purchasing of wind power continues to grow, accounting for approx. 44% of new wind generating capacity installed in 2022. Utilities accounted for 33%.

  7. Wind turbine prices averaged $800$950 per kilowatt (kW) in 2021. The average installed cost of wind projects in 2021 was $1,500/kW, down more than 40% since the peak in 2010. Lower installation costs lead to energy produced at a lower cost, with the average levelized cost of energy for utility-scale wind power down to $32/MW-hours in 2021.

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