Wind energy has officially overtaken nuclear power as the most affordable energy option, at least in countries that surround the North Sea according to Inhabitat.
In nearby European nations, the cost of wind energy is now 30% lower than nuclear power, a promising development in the push for renewable energy around the world. At the rate of present builds and installations, industry group WindEurope predicts these wind farms will generate a full 7% of all energy within Europe by the year 2030.
The reason for the drop in price is largely due to the fact that offshore wind farms are becoming more affordable and easier to build. In the past, building these farms has been costly and impractical – and given the relatively low cost of fossil fuels, it simply has not made sense for many firms to put money in the projects.
However, the closure of many drilling projects in the North Sea has left offshore installation vehicles without any work, causing the cost of transporting turbines out to sea to go down. Other factors that helped lower the price include low oil and steel prices, reduced maintenance requirements and the ability to mass produce turbines.
While these costs on wind power only represent a small part of the global energy market, there’s no reason other regions can’t build up a similar capacity. For example, China has built so many solar and wind facilities that it is already on track to exceed its own emissions targets by 2020. And while wind power is currently developing at a slower pace in the United States, it may not be true for so long, as new turbine designs could potentially alter the entire industry.
Featured Image Credit: Inhabitat.com