Measuring the Impact of Own and Others' Experience on Project Costs in the U.S. Wind Generation Industry / John W. Anderson, Gordon W. Leslie, Frank A. Wolak.

Format:

Book

Author/Creator:

Anderson, John W.

Contributor:

National Bureau of Economic Research.

Leslie, Gordon W.

Wolak, Frank A.

Series:

Working Paper Series (National Bureau of Economic Research) no. w26114.

NBER working paper series no. w26114

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2019.

Summary:

We investigate the relationship between accumulated experience completing wind power projects and the cost of installing wind projects in the U.S. from 2001-2015. Our modeling framework disentangles accumulated experience from input price changes, scale economies, and exogenous technical change; and accounts for both firm-specific and industry-wide accumulated experience. We find evidence consistent with cost-reducing benefits from firm-specific experience for that firm's cost of future wind power projects, but no evidence of industry-wide learning from the experience of other participants in the industry. Further, our experience measure rapidly depreciates across time and distance, suggesting a stable industry trajectory would lower project costs.

Notes:

Print version record

July 2019.