The Largest Wind Turbine Manufacturer in the World

November 22. 2019. 5 mins read

In our article on how “Wind Power Quietly Leads Solar Power,” we talked about how onshore wind has become the first renewable energy source to beat conventional carbon-based energy generation on price. That’s according to investment bank Lazard which looked at the “Levelized Cost of Energy” which subtracts all subsidies and penalties from the equation to truly compare apples to apples. With the continued decline in the cost of generating electricity using alternative energies, it’s no surprise that the world’s biggest electric utility company also happens to be the world’s biggest producer of alternative energy – mainly solar and wind.

Lazard Levelized Cost of Electricity, 2018 November
Lazard Levelized Cost of Electricity, 2018 November – Credit: Lazard

Since last year alone, onshore wind has become 7% cheaper and utility-scale solar 13% cheaper. Still, coal and gas remain the largest sources of new electricity with solar PV, wind, and hydroelectricity taking 3rd, 4th, and 5th places and accounting for around 13% of new electricity generation each. As the energy markets react to these price drops, new additions to global power generation capacity will favor renewables. According to the International Energy Agency, renewables will make up

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