US wind energy prices averaged less than 2.5 cents per kilowatt hour in 2014, according to a study by the Lawrence Berkeley National Laboratory. This record low price is two-thirds below than in 2009 and now supports about 73,500 jobs, more than triple the number just two years ago.
Partly as a result, several electric utilities in the central US – the windiest part of the country – are making wind energy the power source of choice, accounting in part for wind power’s 8 percent increase in 2014.
TRENDPOST: Despite the good news, investors remain wary. Much of the industry’s growth depends on continuation of the federal Production Tax Credit and Investment Tax Credit for renewable energy. If a Republican-led Congress decides to demonstrate fiscal austerity during an election season, the credits could be at risk. Profit-minded investors will wait to see if the credits are extended.
