Windlab has welcomed the release of a review of renewable energy costs confirming wind energy as a clean and affordable source of power.

The review of renewable energy technology costs released by the Energy Research Unit at Melbourne University was commissioned as part of the Australian Government’s Garnaut Climate Change Review Update 2011.

The assessment reviewed technical and economic parameters of wind, photovoltaic and solar thermal energy generation technologies. It included a review of current and future costs of the three forms of renewable energies.

The report found wind energy generation has expanded rapidly in the previous decade 2000-2010, with installed capacity growing at 28% and doubling every 3 years. Wind capital costs have tracked along a learning curve as this capacity has grown, and the expectation of all of the studies reviewed is for the trend to continue as the expansion of the wind industry continues.

Windlab Chief Operating Officer, Luke Osborne said with the release of the review, it’s hoped wind energy will play a more important role in Australia’s energy mix.

“The report shows that wind power out-competes other means of abating GHG emissions.”

“I urge not only Australian but Governments world-wide to take heed of the results of the report and include wind and other renewable energy sources in future energy development policy.”

A copy of the review is available at the Garnaut Review website