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ONSHORE WIND TOTAL INSTALLED COSTS The global weighted-average total installed cost of onshore wind projects fell by 72% between 1983 and 2019, from USD 5179 to USD 1473/kW, based on data from the IRENA Renewable Cost Database (Figure 2.4). Global average total installed costs have fallen by up to 9% for every doubling in cumulative onshore wind capacity deployed globally. This has been driven by wind turbine price and balance-of-plant cost reductions. The global weighted-average total installed cost of onshore wind fell by 24% between 2010 and 2019, from USD 1 949/kW to USD 1 473/kW, with a 5% decline year-on-year in 2019 . The trend in country-specific weighted-average total installed cost for 15 countries that are major wind markets and have significant time series data, are shown in Figure 2.5. Individual countries saw a range of cost reductions from 71% in India to just 2% in Turkey – but these comparisons need to be treated with caution, given the differing start dates for the first available data. Mexico saw an 8% increase over the period shown, with the first cost data point in 2007, when there was a low weighted-average total installed cost of USD 1644/kW. This cost then increased, before falling in the period 2010-2019 as deployment accelerated. The more competitive, established markets show larger reductions in total installed costs over longer time periods than newer markets. There is, however, a wide range of individual project installed costs within a country and region. This is due to the different country and site-specific requirements, e.g. logistics limitations for transportation, local content policies, land-use limitations, labour costs, etc. Figure 2.4 Total installed costs of onshore wind projects and global weighted average, 1983-2019 ONSHORE WIND 6 000 5 000 4 000 3 000 2 000 1 000 0 Capacity (MW) ≤ 10 100 200 300 400 ≥ 500 Source: IRENA Renewable Cost Database. 51 1983 1985 1990 1995 2000 2005 2010 2015 2019 2019 USD/kWPDF Image | RENEWABLE POWER GENERATION COSTS IN 2019
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