Adding more wind power to the grid in the PJM region can lower gas and coal consumption and reduce regional wholesale energy market prices, saving nearly $7 billion per year in the mid-2020s, according to a new study conducted by Synapse Energy Economics on behalf of Americans for a Clean Energy Grid.
The report focuses on the 2021-2026 period and finds that doubling the wind generation already planned in the region would lower fuel costs and drive down prices by $1.74/MWh in the PJM region, which includes all or parts of 13 states and Washington, D.C.
"Consumers save when more wind is installed on the grid because wind costs and performance have improved significantly over the last decade; displacing more expensive fossil-generated electricity is both an emissions and an economic winner," says report author Bob Fagan of Synapse Energy Economics.
The full report, titled "The Net Benefit of Increased Wind Power in PJM," is available here.
