Cost Insights
by PowerAdvocate

Intelligence for energy companies seeking a data-driven approach to cost management

Key Cost Trends in Onshore & Offshore Wind Aug 2021 - Aug 2022

September 27, 2021 at 11:33 AM / by PowerAdvocate posted in Industry Insights, Power & Utilities, Renewables

Input costs for new wind construction projects are estimated to have increased by more than 31% since the beginning of 2020, driven predominantly by the rising price of metals and other raw materials used in major wind turbine components, including the tower, foundations, nacelles, rotor and transformers.

Steel prices have climbed by more than 200% as the demand continues to outweigh the supply.

You can find out more about how Capex and Opex trends will change as well as category level cost forecasts into 2022 in our latest report.

 

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