Due to oversupply in the market, the price of wind turbines has dropped significantly. The industry expects that prices will further decline in 2011.
According to the China Securities News reported on August 6th, the wind turbine contract price shows that in 2010, the price of wind turbines delivered in the second half of 2010 and the first half of 2011 will continue to be significantly lower than in 2008. According to the latest issue of wind turbine generator price index (WTPI) published by Bloomberg New Energy Finance (BNEF), this decline is as high as 15%.
BNEF's analysis shows that the turbine generator set delivered in the first half of 2009 signed in 2008 peaked at a price of 1.22 million euros/MW. However, due to the financing of wind power projects, the oversupply of the global wind power market has caused the price of wind power contracts signed in 2010 signed in the second half of 2010 to the first half of 2011 to drop sharply, with an average price of 1.04 million euros/MW.
In addition, the contracts that were being negotiated and delivered in the second half of 2011 reported the same price, and there was no signal that the recent wind turbine prices have shown signs of recovery. The price here includes shipping, but does not include VAT and all other construction costs.
The major turbine generator buyers expect that prices will further decline in 2010 and 2011, with declines of 4% and 1%, respectively, and a rebound in prices is expected to occur in 2013.
William Young, manager of wind observation services at BNEF, said, “The expectations for turbine generator prices have never been this low, and the current oversupply situation in the market will continue for quite some time. Of course, this is not what wind turbine manufacturers want to see. However, for the industry, this will increase the competitiveness of wind power and natural gas, coal and nuclear power generation."
According to the China Securities News reported on August 6th, the wind turbine contract price shows that in 2010, the price of wind turbines delivered in the second half of 2010 and the first half of 2011 will continue to be significantly lower than in 2008. According to the latest issue of wind turbine generator price index (WTPI) published by Bloomberg New Energy Finance (BNEF), this decline is as high as 15%.
BNEF's analysis shows that the turbine generator set delivered in the first half of 2009 signed in 2008 peaked at a price of 1.22 million euros/MW. However, due to the financing of wind power projects, the oversupply of the global wind power market has caused the price of wind power contracts signed in 2010 signed in the second half of 2010 to the first half of 2011 to drop sharply, with an average price of 1.04 million euros/MW.
In addition, the contracts that were being negotiated and delivered in the second half of 2011 reported the same price, and there was no signal that the recent wind turbine prices have shown signs of recovery. The price here includes shipping, but does not include VAT and all other construction costs.
The major turbine generator buyers expect that prices will further decline in 2010 and 2011, with declines of 4% and 1%, respectively, and a rebound in prices is expected to occur in 2013.
William Young, manager of wind observation services at BNEF, said, “The expectations for turbine generator prices have never been this low, and the current oversupply situation in the market will continue for quite some time. Of course, this is not what wind turbine manufacturers want to see. However, for the industry, this will increase the competitiveness of wind power and natural gas, coal and nuclear power generation."
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