According to a new survey conducted by Bloomberg New Energy Finance, wind turbine prices are still nearly 15 per cent below their peak from 2008.
The survey further found that it is not likely prices will recover for at least the next three years. Currently, wind farm operators are paying an average of 1.04 million euros to turbine makers per megawatt of capacity for a delivery date of middle of next year.
The London-based analysis firm revealed today that those figures are down from their 2008 peak when contracts for 2009 delivery garnered 1.22 million euros. According to William Young, manager for Energy Finance’s Wind Insight Service, expectations for turbine rates are at their slowest. He added that currently the market is experiencing an oversupply that is expected to continue for sometime. Mr Young said that the news was not great for wind turbine makers, but that the sector overall would enjoy improved competition with nuclear, gas and coal.
Turbine manufacturers like Vestas Wind Systems A/S, based in Denmark, are struggling to make sales as funding for developers wanes during the economic downturn. Since the first half of the year, turbine prices have remained stagnate and according to New Energy may not increase until 2013.
New Energy Finance’s Wind Turbine Price Index, published twice yearly, draws information from a confidential data survey published by 22 turbine buyers in the sector. Information from this most recent survey takes data from 110 contracts representing roughly a quarter of the market.
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