Supply chain woes cause rising prices for new renewables

Wind Industry Profile of

Supply-chain woes push up cost of new-build solar, battery storage and onshore wind, which rises between 4% and 14% from year ago

The cost of new-build onshore wind has risen 7% year on year, and fixed-axis solar has jumped 14%, according to the latest analysis by research company BloombergNEF (BNEF). The global benchmark levelized cost of electricity, or LCOE, has temporarily retreated to where it was in 2019. Cost rises are linked to increases in the cost of materials, freight, fuel and labor. BloombergNEF’s estimates for the global LCOE for utility-scale PV and onshore wind rose to $45 and $46 per megawatt-hour (MWh), respectively, in the first half of 2022. Despite losing some ground, this still marks an 86% and 46% reduction since 2010 in nominal terms.... ... More: Official Press Release BloombergNEF

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BloombergNEF, costs, prices, renewable energy, battery, offshore, onshore, solar, supply chain, disruption, coal, gas, components, pressures