This week, top billing goes to the Electric Reliability Council of Texas (ERCOT), which operates the utility system serving most of the Lone Star State and saw a record January 29, when at one point wind generated a new high of 32.1 percent of electricity supply on the system. The hourly wind generation peak for the day was 8,667 megawatts (MW) (8.667 GW), setting a new record as well.
Next up: Spain, which accomplished something new and extraordinary in January, when wind power provided more of the country's electricity supply than any other energy source.
CBC (Canadian Broadcasting Co.) News quoted the Spanish wind energy association as saying wind generated 6 billion kilowatt-hours (kWh) during the month, or approximately 25 percent of the country's electricity. The association also commented that the Spanish economy has "gained 3 euros for every 1 euro invested in incentives for wind farms" and that using fossil fuels to generate the same amount of electricity would have cost $406 million, the article said.
Relying on fossil fuels to produce electricity is getting more expensive because of the government's price on carbon emissions imposed last year, higher financing costs and rising natural gas prices, BNEF said. The cost of wind generation has fallen by 10 percent since 2011 on lower equipment expenses, while the cost of solar power has dropped by 29 percent.
"The fact that wind power is now cheaper than coal and gas in a country with some of the world's best fossil fuel resources shows that clean energy is a game changer which promises to turn the economics of power systems on its head," Michael Liebreich, chief executive officer of Bloomberg New Energy Finance, said in a statement.