Wind turbine prices set to increase

Wind turbine prices are expected to increase by up to 10% over the next 12 – 18 months due to increases in commodity prices, logistics costs, and COVID-19-related challenges, according to new analysis from Wood Mackenzie, a Verisk business. As noted in a recent Wood Mackenzie report, a rise in steel, copper, aluminium, and fibre prices, coupled with a four-fold increase in logistics costs, have increased turbine prices over the last six months. Wood Mackenzie expects this trend to continue for the next four to five quarters. Shashi Barla, Wood Mackenzie Principal Analyst, said: "Turbine OEMs and component suppliers face…