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GE: Turbine prices declined 13 percent on a yearly basis

"The onshore market continues to struggle with wind turbine prices, but we're making good progress reducing costs," said the CFO of General Electric.

US turbine maker GE Renewable Energy reports that prices are still under pressure, and the firm is trying to offset this challenge with cost reductions.

Prices on new turbine units for the order book dropped 14 percent in the first quarter relative to the same period last year, stated CFO of General Electric, Jamie Miller, last Friday at a teleconference after the release of the GE first quarter report.

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