In this study, we propose a peak shaving method for reducing aerodynamic loads in a pitch-controlled 20 MW class horizontal-axis wind turbine. The wind turbine rotor experiences maximum aerodynamic loads at the rated wind speed, and minimizing these loads is crucial for structural integrity and levelized cost of energy (LCoE) reduction. The peak shaving method involves additional pitch or rpm control near the rated wind speed to reduce these peak loads. Various cases of the peak shaving method were compared using the comprehensive wind turbine aeroelastic analysis code, FAST. We focused on analyzing the impact on aerodynamic,inertial, and gravitational loads, particularly rotor thrust and flap-wise bending moment, and investigated changes in the P-V curve. The variations in annual energy production due to changes in the P-V curve were estimated, and a comparative analysis was conducted from the LCoE perspective. The results demonstrate that the peak shaving method effectively reduces aerodynamic loads on the wind turbine, offering improved performance and cost benefits,thereby promoting sustainable wind energy production.