Cost of Wind Energy Review: 2024 Edition

Summary

The 2024 Edition of the Cost of Wind Energy Review from NREL provides Levelized Cost of Energy (LCOE) estimates for wind energy projects in the United States, based on 2023 data. The report highlights an LCOE of $42/MWh for land-based wind, $117/MWh for fixed-bottom offshore wind, and $181/MWh for floating offshore wind, all in 2023 USD. It also outlines U.S. Department of Energy (DOE) targets for LCOE reduction, aiming for land-based wind to reach $27/MWh by FY 2035 from a FY 2023 baseline of $39/MWh (in 2022 USD), and fixed-bottom offshore wind to reach $61/MWh by FY 2035 from a FY 2023 baseline of $95/MWh (in 2022 USD). Additionally, the DOE's Floating Offshore Wind Shot goal is set at $45/MWh (2020 USD) by 2035.

Key Facts

Source Document

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