The average market prices for both wind and solar have more than doubled since before the pandemic (4Q2019).
DB2
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The major question is why. Is it simply inflation? Manpower? Equipment? Construction cost?
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All of these. Plus risk. For example, for wind projects there is the risk that it won’t get financed through completion, or that there will be so many defects the project gets cancelled before any money can be earned on it. There’s also regulatory risk, you can see that one clearly by comparing TX and CA, TX has much lower regulatory risk, while CA has much higher regulatory risk, so CA ends up with less solar than TX despite being a stronger supporter of it.
Off shore wind seems to be the greatest risk and especially the new longest blade models. With experience risks should become more manageable. Of course the energy conflicts in California are well known. Decisions can go either way adding to risk.
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