Which wind power base station is cheaper in power plants

The University of Melbourne analysis in Figure 1 shows that the cost of electricity from wind and solar, which includes the cost of capital, is lower than the costs of CCGT and Steam (thermal gas turbine) power plants that are already built and operating.

As shown in the reference case, the cost of power generated at conventional power plants is lower than the cost of wind-generated power under the given assumptions of lower fuel prices. Wind-generated power at a European inland site is approximately 33-34 per cent more expensive than natural gas- and coal-generated power.

The consistent nature of wind power costs justifies a relatively higher cost compared to the uncertain risky future costs of conventional power.

The level of avoided capital costs depends on the extent to which wind power capacity can displace investments in new conventional power plants, and thus is directly tied to how wind power plants are integrated into the power system.

Identifying the most cost-effective solutions for integrating renewable energy sources is a complex task but essential for realising the full potential of wind energy. In conclusion, wind energy has emerged as one of the cheapest sources of electricity in the United States.

Regions with higher capacity factors tend to have lower prices. The low-price areas are mostly located in the Three North regions, especially in northern North China and western Northeast China, as well as Xizang and the coastal regions of East China. The LCOE of wind power is expected to decline in the future.