A typical onshore wind project requires a 6-7c/kWh power price and a $50/ton CO2 price to generate an unlevered IRR of 10%. Investors may be inclined to view 5-6% IRRs, lowering the incentive price to 5-6c/kWh even without a carbon price. The main cost is capex, which is disaggregated across 30 inputs.
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