Wind Power
Grid parity also applies to wind power where it varies according to wind quality and existing distribution infrastructure. ExxonMobil predicts wind power real cost will approach parity with natural gas and coal without carbon sequestration and be cheaper than natural gas and coal with carbon sequestration by 2025.
Wind turbines reached grid parity in some areas of Europe in the mid-2000s, and in the US around the same time. Falling prices continue to drive the levelized cost down and it has been suggested that it has reached general grid parity in Europe in 2010, and will reach the same point in the US around 2016 due to an expected reduction in capital costs of about 12%. Nevertheless, a significant amount of the wind power resource in North America remains above grid parity due to the long transmission distances involved.
Read more about this topic: Grid Parity
Famous quotes containing the words wind and/or power:
“Falstaff. What wind blew you hither, Pistol?
Pistol. Not the ill wind which blows no man to good.”
—William Shakespeare (1564–1616)
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—James Fenimore Cooper (1789–1851)