- Renewable & Alternative Energy
cost of wind energy
The true cost of wind energy reveals that it is a cost effective way to provide electricity. Many of the costs are paid once and then it does not need anymore financial input. From this point of view it is an economical way to supply electricity especially in remote areas and in a time of rising oil and gas prices.
The capital cost of wind energy are the main costs and once they are paid off there are no more costs. Most of the money that goes into setting up a wind farm is focused on the wind turbines. The cost of wind energy has come down in recent years, this is good because more turbines can be put up for less money thus generating more electricity.
The rest of the costs associated with a wind farm have to do with the installation process. Roads, cables, and legal fees are all other costs associated with wind energy. The cost of building a wind farm varies depending on the geography of the area and other factors that are site specific. The number of wind turbines also determines the cost of wind energy. Though in general terms a larger wind farm is cheaper than a small one.
Maintaining a site can also be expensive. Though if you compare it with other kinds of energy generators there are lower maintenance costs when it comes to wind energy. Wind energy also needs less supervision than for example a nuclear power plant.
This means that it is a cheaper form of energy. The low cost of wind energy is associated with wind farms as servicing and maintaining a single wind turbine is more expensive than maintaining several in one site.
The cost of wind energy has come down enough that you are likely to pay as much for your electricity as you would for conventionally generated electricity. This means that is now a very affordable source of energy.
Though this is not always true and costs of wind energy can be expensive depending on the area and factors such as proximity to wind farms and who is supplying the electricity.