Heavy investments in technology over the past decade have helped reduce LCOE. Furthermore, over the past ten years, investments in technology have reduced the standardized cost of energy by double digits per year.
The sector as a whole must face the difficult combination of further reducing LCOE and the sharp increase in raw material, energy and transport prices, which is unsustainable to put on one side.
Increased investments in green energy to address climate change have helped reduce the cost of wind power to a level where it is more competitive than fossil coal and natural gas.
And so, it has also been seen in Copenhagen. WindEurope has shown once again that wind is essential to achieve the climate and energy goals set by Europe for the year 2050.
It has been three intense days in which we have been able to share our experience in the wind sector with many of you. Therefore, from Laulagun, we want to take advantage of these lines to thank both the organizers, collaborators and attendees for the treatment offered to our representatives at the event.
Reduction of LCOE with investments in technology
According to WindEurope media, wind represents 16% of Europe’s electricity consumption today. The EU wants it to be half that by 2050, and for electricity to play a much bigger role in the energy mix. That means a huge expansion in wind power – from 180 GW in the EU today to 1,300 GW by 2050. We have been reducing LCOE / year by double digits for a decade with heavy investments in technology. And if we add all this to the current pressure on the price of steel and energy, it puts an entire experienced and specialized supply chain in an unsustainable situation. But not only that, but also to the turbine producers themselves.
Therefore, it is essential to scale this exogenous impact. Otherwise, it will be impossible to internally assume all the cost involved. In turn, this energy transition requires continuing to study, expand and develop technologies for this purpose. Something that Laulagun Bearings wants, we have been working on for years.
Copenhagen to Bilbao
Another news that the WindEurope 2021 event has left us, has been the presentation of the 2022 event, which will be held at home, in Bilbao. It will be from April 5 to 7, and the event will come at a watershed moment for the European wind industry. It will be a comprehensive exhibition and conference, showcasing the latest in onshore and offshore. We will be very happy to share our experiences and our knowledge again at next year’s appointment. In the meantime, the entire Laulagun Bearings team will remain at your disposal. Once again, thanks to all the people who have shown interest in our work during the WindEurope 2021 event.