Wind-to-rotor efficiency (including rotor blade friction and drag) are among the factors impacting the final price of wind power.[16] Further inefficiencies, such as gearbox losses, generator and converter losses, reduce the power delivered by a wind turbine. To protect components from undue wear, extracted power is held constant above the rated operating speed as theoretical power increases at the cube of wind speed, further reducing theoretical efficiency. In 2001, commercial utility-connected turbines deliver 75% to 80% of the Betz limit of power extractable from the wind, at rated operating speed.[17][18][needs update]
Worldwide growth of photovoltaics has averaged 40% per year from 2000 to 2013[35] and total installed capacity reached 303 GW at the end of 2016 with China having the most cumulative installations (78 GW)[36] and Honduras having the highest theoretical percentage of annual electricity usage which could be generated by solar PV (12.5%).[36][35] The largest manufacturers are located in China.[37][38]
Permanent magnets for wind turbine generators contain rare earth metals such as Nd, Pr, Tb, and Dy. Systems that use magnetic direct drive turbines require higher amounts of rare metals. Therefore, an increase in wind production would increase the demand for these resources. It is estimated that the additional demand for Nd in 2035 may be 4,000 to 18,000 tons and Dy could see an increase of 200 to 1200 tons. These values represent a quarter to half of current production levels. However, since technologies are developing rapidly, driven by supply and price of materials these estimated levels are extremely uncertain.[55]
As the cost of solar electricity has fallen, the number of grid-connected solar PV systems has grown into the millions and utility-scale solar power stations with hundreds of megawatts are being built. Solar PV is rapidly becoming an inexpensive, low-carbon technology to harness renewable energy from the Sun. The current largest photovoltaic power station in the world is the 850 MW Longyangxia Dam Solar Park, in Qinghai, China.
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