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Benchmarking of Wind with Solar Energy: Cost, Profit and Opportunity Benchmarking Product Image

Benchmarking of Wind with Solar Energy: Cost, Profit and Opportunity Benchmarking

  • Published: January 2011
  • 171 Pages
  • Lucintel

Background:

Wind and solar are clean renewable energy resources available in abundance across all the regions. The business of generating electricity from wind and solar energy is growing and is poised for rapid expansion as the U.S, China and the rest of the world are looking for cleaner and more sustainable ways to generate electricity.

According to the Lucintel report, “Benchmarking of Wind with Solar Energy: Cost, Profit and Opportunity Benchmarking”, global wind production capacity is expected to reach 486 GW, solar photovoltaic (PV) 179 GW and solar thermal 22 GW by 2016 respectively. Despite the recent economic slowdown, energy demand is on the rise in Asian and other developing economies due to high industrial growth rate and greater usage of industrial goods in those regions. This report benchmarks wind energy with solar energy based on various parameters such as cost, profit, risk and opportunity.

Although, cost of generating electricity, easy availability of abundant raw materials and capacity factors have always encouraged the growth of conventional energy; environmental concerns, accelerating fuel prices and emission regulations such as READ MORE >

1 Executive Summary
2 Renewable Energy Market Assessment
2.1 Renewable Energy Market Assessment
2.1.1 Wind Energy Market Assessment
2.1.1.1 Wind Energy Supply Chain Analysis
2.1.1.2Wind Energy Efficiency
2.1.2 Solar Photovoltaic Market Assessment
2.1.2.1 Solar PV Energy Supply Chain
2.1.2.2 Solar Photovoltaic efficiency
2.1.3 Solar Thermal Market Assessment
2.1.3.1 Solar Thermal Energy Supply Chain
2.1.3.2 Solar Thermal Efficiency
2.1.4 Porter’s Five Forces Comparative Analysis for Wind, Solar Photovoltaic and Solar Thermal
3 Renewable Energy Market Trend and Forecast
3.1 Trend and Forecast in Renewable Energy
3.1.1 Trend and Forecast in Wind, Solar PV and Solar Thermal Energy
3.1.1.1 Global Market Analysis
3.1.1.2 Regional Analysis
3.1.1.3 Top Countries Analysis in Wind, Solar PV and Solar thermal
3.1.1.4 Venture Capital Funding for Wind and Solar Energy
3.1.1.5 Merger and Acquisitions Activities for Wind and Solar Energy
3.1.1.6 Forecast (2011-2016)
3.1.1.7 Drivers and Challenges for Wind Energy
3.1.1.8 Drivers and Challenges for Solar Photovoltaic
3.1.1.9 Drivers and Challenges for Solar Thermal
4 Cost Benchmarking of Solar with Wind Energy
4.1 Levelized Cost of Energy
4.1.1 Wind Energy
4.1.1.1 Cost Breakdown & Analysis
4.1.2 Solar Photovoltaic
4.1.2.1 Cost Breakdown & Analysis
4.1.3 Solar Thermal
4.1.3.1 Cost Breakdown & Analysis
4.1.4 Benchmarking of Solar with Wind Energy in Terms of Total Cost
4.1.4.1 Cost Benchmarking of Solar with Wind Energy in Terms of Capital Cost
4.1.4.2 Cost Benchmarking of Solar with Wind Energy in Terms of Equipment Cost
4.1.4.3 Cost Benchmarking of Solar with Wind Energy in Terms of Operational &
Maintenance Cost
5 Profit Analysis of Solar with Wind Energy
5.1 Wind energy profitability
5.2 Solar PV Profitability
6 Risk Analysis of Wind and Solar Energy
6.1 Resource Risk
6.2 Regulatory Risk
6.3 Environment Risk
6.4 Operation Risk
6.5 Technology Risk
6.6 Financial Risk
7 Conclusion

(A total of 86 figures/charts are presented in this report as shown below)

List of Figures

Chapter 1: Executive Summary
Fig 1.1Trend in levelized cost of energy for various renewable energy sources
Fig 1.2 Trend and Forecast in levelized cost of energy for various renewable energy sources.
Chapter 2: Renewable Energy Market Assessment
Fig. 2.1 Installed capacity of renewable energy in top 10 countries in 2010
Fig 2.2 Global leadership quadrant for wind, solar PV and solar thermal
Fig 2.3 Value chain analysis of wind energy
Fig 2.4 Value chain analysis of solar PV
Fig 2.5 Value chain analysis of Solar thermal
Fig 2.6 Porters Five Forces comparative analysis for wind, solar PV and solar thermal
Chapter 3: Renewable Energy Market Trend and Forecast
Fig 3.1 Growth matrix of wind, solar PV and solar thermal
Fig 3.2 Regional growth matrix of wind, solar PV and solar thermal
Fig.3.3 Global installed capacity trend of wind, solar PV and solar thermal energy (2005-2010)
Fig.3.4 Global trend of wind, solar PV and solar thermal new turbine installation (2005-2010)
Fig.3.5 Growth of global wind, solar PV and solar thermal energy market ($ Billion) (2005-2010)
Fig 3.6 Installed capacity trend of wind, solar PV and solar thermal in Europe (2005-2010)
Fig 3.7 Growth matrix of wind, solar PV and solar thermal in Europe
Fig 3.8 Installed capacity trend of wind, solar PV and solar thermal in North America (2005-2010)
Fig 3.9 Growth matrix of wind, solar PV and solar thermal in North America
Fig 3.10 Installed capacity trend of wind, solar PV and solar thermal in Asia Pacific (2005-2010)
Fig 3.11 Growth matrix of wind, solar PV and solar thermal in Asia Pacific
Fig 3.12 Installed capacity trend of wind, solar PV and solar thermal in Rest of World (2005-2010)
Fig 3.13 Growth matrix of wind, solar PV and solar thermal in Rest of World
Fig 3.14 Major countries growth matrix of wind, solar PV and solar thermal
Fig 3.15 Installed capacity trend of wind, solar PV and solar thermal in USA (2005-2010)
Fig 3.16 Installed capacity trend of wind, solar PV and solar thermal in China (2005-2010)
Fig 3.17 Installed capacity trend of wind, solar PV and solar thermal in Germany (2005-2010)
Fig 3.18 Installed capacity trend of wind, solar PV and solar thermal in Spain (2005-2010)
Fig 3.19 Installed capacity trend of wind, solar PV and solar thermal in India (2005-2010)
Fig 3.20 Installed capacity trend of wind, solar PV and solar thermal in Japan (2005-2010)
Fig 3.21 Installed capacity trend of wind, solar PV and solar thermal in Italy (2005-2010)
Fig 3.22 Venture capital funding trend for wind and solar (2005- 2010)
Fig 3.23 Merger and Acquisitions trend for wind and solar
Fig 3.24 Global market forecast (2011-2016) in cumulative MW for wind, solar PV and solar thermal energy capacity
Fig 3.25 Forecast of new installations worldwide for wind, solar PV and solar thermal 2011-2016
Fig 3.26 Market forecast (2011-2016) in cumulative MW for wind, solar PV and solar thermal energy capacity in North America
Fig 3.27 Market forecast (2011-2016) in cumulative MW for wind, solar PV and solar thermal energy capacity in Europe
Fig 3.28 Market forecast (2011-2016) in cumulative MW for wind, solar PV and solar thermal energy capacity in Asia Pacific
Fig 3.29 Market forecast (2011-2016) in cumulative MW for wind, solar PV and solar thermal energy capacity in Rest of World
Fig 3.30 Forecast (2011-2016) for global wind, solar PV and solar thermal energy market value ($ billions)
Fig 3.31 Regional growth matrix of wind, solar PV and solar thermal
Fig 3.32 Impact analysis of drivers - wind energy
Fig 3.33 Impact analysis of challenges - wind energy
Fig 3.34 Impact analysis of drivers -solar PV
Fig. 3.35 Impact analysis of challenges - solar PV
Fig 3.36 Impact analysis of drivers - solar thermal
Fig 3.37 Impact analysis challenges - solar thermal energy
Chapter 4: Cost Benchmarking of Solar with Wind Energy
Fig 4.1 Cost breakdown of wind energy in 2010
Fig 4.2 Capital cost breakdown of wind energy in 2010
Fig. 4.3 Capital cost trend ($/MWh) (1995-2010) of wind energy
Fig 4.4 Wind turbine cost, steel and glass fiber price trend (1998-2009)
Fig 4.5 Copper price trend ($/MT)
Fig 4.6 Cost breakdown of operational & maintenance cost of wind energy in 2010
Fig 4.7 Operational & maintenance cost ($/MWh) trend of wind energy (1995-2010)
Fig 4.8 Cost breakdown of solar photovoltaic in 2010
Fig 4.9 Capital cost breakdown of solar photovoltaic in 2010
Fig 4.10: Capital cost ($/MWh) trend of solar photovoltaic (1995-2010)
Fig 4.11 Solar module price trend ($/W)
Fig 4.12 Operational & maintenance cost ($/MWh) trend of solar photovoltaic (1995-2010)
Fig 4.13 Cost breakdown of solar thermal in 2010
Fig. 4.14 Capital cost breakdown of solar thermal in 2010
Fig. 4.15 Capital cost trend of solar thermal ($/MWh) (1995-2010)
Fig. 4.16 Operational & maintenance cost breakdown of solar thermal in 2010
Fig 4.17 Operational & maintenance cost trend of solar thermal ($/MWh) (1995-2010)
Fig 4.18 Trend in levelized cost of energy for wind, solar PV and solar thermal (1995-2010)
Fig 4.19 Breakdown of total cost of wind, solar PV and solar thermal in 2010
Fig 4.20 Trend and Forecast of levelized cost energy for wind, solar PV and solar thermal
Fig 4.21 Capital cost of wind, solar PV and solar thermal in 2010
Fig 4.22 Capital cost trend of wind, solar PV and solar thermal (1995-2010)
Fig 4.23 Capital cost breakdown of wind, solar PV and solar thermal in 2010
Fig 4.24 Capital cost forecast of wind, solar PV and solar thermal (2011-2016)
Fig 4.25 Equipment cost of wind, solar PV and solar thermal 2010
Fig 4.26 Equipment cost trend of wind, solar PV and solar thermal (1995-2010)
Fig 4.27 Operational and maintenance cost of wind, solar PV and solar thermal 2010
Fig 4.28 Operational and maintenance cost trend of wind, solar PV and solar thermal (1995-2010)
Fig 4.29 Operational and maintenance cost forecast of wind, solar PV and solar thermal (2011-2016)
Fig 4.30 Cost Analysis for wind, solar PV and solar thermal
Chapter 5: Profit Analysis of Solar with Wind Energy
Fig 5.1 Profitability analysis for power developers of the wind, solar PV and solar thermal segments
Fig 5.2 Payback period of wind, solar PV and solar thermal (Power developers)
Fig 5.3 Profitability analysis for wind, solar PV and solar thermal
Fig 5.4 Gross Profit trend for wind and solar PV
Fig 5.5 Net Profit trend for wind and solar PV
Fig 5.6 Trend in gross profit margin of wind value chain
Fig 5.7 Trend in Net profit margin of wind value chain
Fig 5.8 Gross profit margin of solar PV value chain
Fig 5.9 Net profit margin of solar PV value chain
Chapter 6: Risk Analysis of Wind and Solar Energy
Fig 6.1 Risk analysis of wind, solar PV and solar thermal
Fig 6.2 Risk/Investment analysis of wind, solar PV and solar thermal

(A total of 28 tables are presented in this report as shown below)

List of Tables

Chapter 1: Executive Summary
Table 1.1Trend and Forecast of different energy sources
Table 1.2 Trend in levelized cost of energy of different renewable energy sources (CAGR) (1995-2010)
Table 1.3 Forecast in levelized cost of energy of different energy sources (CAGR) (2011-2016)
Table 1.4 Market parameters for the wind, solar PV and solar thermal energy markets and attributes of usage
Chapter 2: Renewable Energy Market Assessment
Table 2.1 Major suppliers of polysilicon
Table 2.2 New players in the market
Table 2.3 Market players of Ingot/Wafer
Table 2.4 Market players of solar PV cell
Table 2.5 Market players of solar module
Table 2.6 Companies making concentrated solar power components
Table 2.7 Concentrated solar power developer companies
Chapter 3: Renewable Energy Market Trend and Forecast
Table 3.1 Global Installed capacity trend of wind, solar PV and solar thermal (GW) (2005-2010)
Table 3.2 Ranking of regions in terms of cumulative installed capacity for wind, solar PV and solar thermal by 2010
Table3.3 Installed capacity trend of wind, solar PV and solar thermal (GW) (2005-2010) in Europe
Table3.4 Installed capacity trend of wind, solar PV and solar thermal (GW) (2005-2010) in North America
Table 3.5 Installed capacity trend of wind, solar PV and solar thermal (GW) (2005-2010) in Asia Pacific
Table 3.6 Installed capacity trend of wind, solar PV and solar thermal (GW) (2005-2010) in Rest of World
Table 3.7 Installed capacity trend of wind, solar PV and solar thermal in USA (2005-2010)
Table 3.8 Installed capacity trend of wind, solar PV and solar thermal in China (2005-2010)
Table 3.9 Installed capacity trend of wind, solar PV and solar thermal in Germany (2005-2010)
Table 3.10 Installed capacity trend of wind, solar PV and solar thermal in Spain (2005-2010)
Table 3.11 Installed capacity trend of wind, solar PV and solar thermal in India (2005-2010)
Table 3.12 Installed capacity trend of wind, solar PV and solar thermal in Japan (2005-2010)
Table 3.13 Installed capacity trend of wind, solar PV and solar thermal in Italy (2005-2010)
Table 3.14 Major Venture capital activities for wind and solar in 2010
Table 3.15 Major merger and acquisitions activities for wind and solar in 2010
Table 3.16 Growth forecast (2011-2016) for wind, solar PV and solar thermal in terms cumulative capacity installations
Chapter 5: Profit Analysis of Solar with Wind Energy
Table 5.1 Economic Assumption for calculating ROI, IRR, ROE and Payback period

Benchmarking of Wind with Solar Energy: Wind Energy to Lead Renewable Energy Pack

Wind and solar are clean renewable energy sources available across the globe. The business of generating electricity from wind and solar energy is growing and is poised for rapid expansion as the US, China and rest of the world look for cleaner and more sustainable ways to generate electricity. As per Lucintel’s estimates the wind energy market is expected to reach $108 billion, the solar photovoltaic (PV) market $101 billion and the solar thermal market to $17 billion by 2016.

Investment in renewable energy calls for a proper analysis, therefore Lucintel has performed a analysis of the global wind and solar energy markets and has published a comprehensive research report, “Benchmarking of Wind with Solar Energy 2011-2016: Cost, Profit and Opportunity Benchmarking”.
As per the study, the cost of generating electricity from wind is low as compare to solar PV and solar thermal. Its low levelized cost gives it a competitive advantage over solar PV and solar thermal. The low capital cost of wind energy further enhances its competitive advantage over solar PV and solar thermal.

Typically, the return on investment of wind energy about is 9%, while the ROI of solar PV and solar thermal are both about 8%. Generally, investors will require an ROI of 8% or higher if they are investing in an idea/product. The average internal rate of return for wind energy of 11% also surpasses that of solar energy. Increasing energy consumption, together with government support, will drive renewable energy growth, resulting in a sound future for renewable energy sources.

Lucintel’s report makes a detailed assessment of the renewable energy industry offering the client a better understanding of the market’s current trends and forecasts. Apart from covering the profit and risk analysis of generating power from these renewable energy sources, the report also benchmarks installation and operational costs of solar and wind energy,

Lucintel has been tracking this market for the last 10 years and has used the following sources for the completion of this valuable report:

- Lucintel has conducted interviews of major material and end users
- In-depth research on the companies involved in this market
- Extensive search of current published literature, market and database information including news articles published in Composites-Week newsletter
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years

Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data and performs a comprehensive analysis on it. Lucintel then organizes the data, its findings and insights into a concise report designed to support the strategic decision making process.

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