Cost of building various types of electricity sources
Here are a few data points on the cost of building various kinds of facilities to generate power. Accumulated for future reference.
3/27 – Bismarck Tribune – North Dakota regulators approve peaking station turbines – A pair of natural gas turbines were approved. That makes three turbines in Watford City that will have capacity of 135 MW at estimated cost of $102 million.
- $755K/MW – Natural gas peaker turbines – $102M cost – 135MW capacity
3/19 – Million Dollar Way – Wind – Article links to two sources:
- $2,500K/MW – wind farm – $1M cost – 400 MW
- $875K/MW – gas turbine – $77M cost – 88MW
The wind farm is the upper end of a range. For more details, check out:
3/18 – Rapid City Journal – Crow Creek receives federal grant to launch billion-dollar wind farm – The article cites a New York investor and advisor to the tribe as saying it will cost between $800M to a billion to build out a 400MW facility.
- $2,000K/MW to $2,500/MW – wind farm – $800M to $1,000M – 400 MW
I recall seeing $2M mentioned several times as the cost to build out each MW of electricity on a wind farm. Did a quick search of my archives and can’t find any other specific mentions. As I come across estimates, I’ll make note of them.
Also remember that any wind or solar facility requires coal or natural gas backup for moments or hours when the wind or sun isn’t instantly available.