Countries and companies are increasingly turning to wind and solar projects because it makes sense for their bottom lines according to Pacific Wind Ltd generation program manager Reza Sehdehi.
The company, which monitors global energy generation methods as part of its everyday operation as New Zealand, Australia and the Pacific’s only source for INVELOX technology has noticed a marked change in the forms of energy being produced globally.
Global use of solar and wind generation has risen by 39% and 12% respectively according to an International Renewable Agency report released in July. In Germany alone the amount of power generated in wind farms rose by 50% between 2014 and 2015 while almost all other forms of energy production had fallen, some by as much as 7%.
Sehdehi puts this down to the increasing economic and logistical value of wind farms and photovoltaic solar generation facilities.
"In the last couple of years these renewable energy sources have stopped being just the right thing to use and are now the smart thing to use," says Sehdehi. "They offer a lot of benefits with low cost of production, reduced investment costs and increased flexibility to name just a few things."
US investment bank, Lazard LTD, found in a study that while coal cost US$65-$150/MWh to produce unsubsidized and diesel cost US$212-$281/MWh to produce wind cost US$32-$77/MWh and community solar projects cost US$78-$136/MWh to produce before any subsidies were supplied.
Report writers also discovered that prices for wind had dropped by as much as 61% in six years, a figure Sehdehi says could be higher with an INVELOX system.
"Tests we have done have shown that INVELOX systems are able to produce power at US$0.2c/kw at the turbine, which would have huge implications on costs of power to the consumer."
Wind and solar projects can also be set up and modified quickly according to Sedehi, as opposed to other energy forms which can sometimes take decades to get approval for and build.
"The most recent completed project on the Palmyra Atoll was approved and constructed in just under four years, while a test structure in Iran was built, used, and decommissioned after successful tests in three," says Sedehi. "What's more adding or removing capacity using technologies like solar panels and INVELOX structures can be completed in a matter of days."
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