Professional Engineers Of North Carolina

FALL 2014

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18 the Professional Engineer Fall 2014 A new wind is blowing S ome people think I'm crazy. Occasionally, I get a question like this: "What's a former off shore drilling engineer and real estate developer doing leading a nonprofi t that's focused on wind energy — and in a part of the country with virtually no wind energy installed?" It's a fair question; and one that I also ask myself fairly regularly. Every time I do, the answer points me in the same direction: T e opportunity in wind energy is huge, and the Southeast has a signifi cant role to play. Competitive costs and still trending down Like other renewables over the past few years, wind has seen dramatic cost reductions. T ese have been driven by both technology improvements and industry scale. In fact, according to a report by the Lawrence Berkeley National Lab, 2013 marked a new all-time low for both installed cost (dollar per kilowatt) and energy prices from wind (cents per kilowatt-hour). W I N D B Y B R I A N O ' H A R A Price comparison megawatts Recent wind energy prices h ave been hard to beat and are competitiv e with expected future costs of burning fuel in natural gas plants. Source: U.S. Department of Energy $80 70 60 50 40 30 20 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 Range of AEO14 gas price projections AEO14 reference case gas price projection Wind 2011 PPA execution Wind 2012 PPA execution Wind 2013 PPA execution Southeastern wind energy will deliver power economically and at a large scale. PROVIDED BY ABB

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