In 2006, the IEA Wind Executive Committee decided to pursue the development of this Cost Annex. During a meeting, held in early 2007 in Brussels, a draft Annex was developed and presented to the IEA Wind Executive Committee in Korea in April 2007, where it was given the go-ahead. The formal kick-off meeting is now planned for late summer 2007, lead by the research institute Risø, which is willing to act as the operating agent. The countries interested in contributing to the development of the cost Annex are Sweden, Denmark, the Netherlands, the United States, Germany, Ireland, Finland, as well as EWEA.

The revised Annex contains six main objectives:
• identification and assessment of existing methodologies for estimating the cost of wind energy;
• development of a draft methodology for IEA wind use;
• identification of learning curves for the cost of wind energy;
• a comparison between the costs of wind energy and that of other electricity generating technologies;
• development of a draft methodology to assess the value of wind energy; and
• enhancement of communication, outreach and informal exchange among participants.

Compared to the first draft, the revised Annex focuses more specifically on the core tasks without putting emphasis on assessing potential Research, Development and Demonstration (R, D&D) performance indicators or the related methodologies for the evaluation of the benefits of R, D&D projects, as these topics are covered by other studies and research bodies.