What Are the Costs of Wind Power
Wind power, which is considered a form of solar energy, is capable of generating a large amount of energy and is becoming increasingly popular. With privately owned residential wind turbines and commercial wind farms, use of wind energy is growing.
Residential wind turbines cost from $3,000 to $5,000 per kilowatt. The cost for converting to wind power for an average home is about $35,000. However excess energy generated by the homeowner can be sold back to the utility company. This means the initial investment in wind power can be paid back and later earn a profit.
Another important fact is that wind power is a completely renewable energy and isn’t going away any time soon. Wind may occasionally be intermittent, but it always comes back. Wind is caused by the uneven heating of the Earth’s surface from the sun, which is the reason wind energy is considered a form of solar energy. The rotation of the Earth and its topography also have a large impact on the wind. The amount of wind power varies from location to location, but it is easy to research how the average wind power in any area. The angle of the wind turbine is also an important detail.
Wind farms collect solar energy for entire networks. However, there are large costs that come with these farms. There are three basic types of wind farms - off-shore farms, on-shore farms, and land farms. While off-shore farms are the most beneficial, generating the most energy, they also are the most expensive. The wind at off-shore farms is stronger and more consistent due to the ease with which it can travel across the large smooth expanse of ocean. There is a significant cost, however, to building and maintaining these far off farms. Extra maintenance is also required because of the salt corrosion caused by the ocean.
The cost of wind farms are also affected by the variable costs of supply and demand. Manufacturers see the opportunity to make money in the wind farm field, and thus raise costs. In fact, off-shore wind farms have risen in cost by 48% in the past three years. At the same time, land costs have increased 74%. Rising prices have not deterred investors who see the increasing demand for wind power, as well as the improvements in wind technology.
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