NextEra Energy expects wind to be the cheapest source of US electric generation even after federal production tax credits (PTCs) now worth $20/MWh over project life phase down in 2024, the nation’s renewables leader said in a presentation to investors.

It estimates post-2024 levelised cost of energy (LCOE) for wind at $20-25/MWh without subsidies, which assumes about 10% annual productivity gains until then from several expected drivers.