An new independent studied performed by the consulting firm Pöyry AS reveals that wind power reduces consumer electricity costs.
The study entitled Wind Energy and Electricity Prices [pdf] was commissioned by the European Wind Energy Association (EWEA). In its report Pöyry AS assessed the impact of wind energy on electricity prices by conducting case studies in Germany, Denmark, and Belgium.
The study's findings conclude that electricity prices were reduced between 3 and 23 €/MWh. The savings depend on the amount of wind energy being produced.
The report also deduced that as wind further penetrates the energy market, it will drive wholesale spot prices down. Currently, the energy source that usually sets the price on the wholesale market is coal. In every country analyzed wind replaces coal during hours of low demand and gas-fired power plants during high demand periods. So, affordable, carbon dioxide-free electricity is already making its mark.
Christian Kjaer, EWEA's Chief Executive Officer said, "It has already been well-established that wind reduces CO2 emissions, but now we have stronger evidence than ever before that wind power also reduces electricity prices for consumers."
Read the full story at the European Wind Energy Association: Wind energy reduces electricity prices, says independent study
Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
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