Why is wind power generation so expensive

Why is wind energy so expensive?

The cost of wind energy has plummeted over the past decade. In the U.S., it is cost-competitive with natural gas and solar power. Wind energy and solar energy complement each other, because wind is often strongest after the sun has heated the ground for a time.

Is wind energy cost-effective?

Wind power is cost-effective. Land-based, utility-scale wind turbines provide one of the lowest-priced energy sources available today. Furthermore, wind energy’s cost competitiveness continues to improve with advances in the science and technology of wind energy. Wind turbines work in different settings.

What if Americans realized the cost of generating energy from wind?

But if Americans realized the full cost of generating energy from wind power, they would be less willing to foot the bill – because it’s more than most people think. Over the past 35 years, wind energy – which supplies just 2% of US electricity – has received US$30 billion in federal subsidies and grants.

How much does wind power cost?

These subsidies shield people from the uncomfortable truth of just how much wind power actually costs and transfer money from average taxpayers to wealthy wind farm owners, many of which are units of foreign companies. Proponents tend to claim it costs as little as $59 to generate a megawatt-hour of electricity from wind.

How much money does wind power add to the US economy?

That same year, investments in new wind projects added $20 billion to the U.S. economy. Wind power is a clean and renewable energy source. Wind turbines harness energy from the wind using mechanical power to spin a generator and create electricity.

Why is wind energy a good investment?

Communities that develop wind energy can use the extra revenue to put towards school budgets, reduce the tax burden on homeowners, and address local infrastructure projects. Wind power is cost-effective. Land-based, utility-scale wind turbines provide one of the lowest-priced energy sources available today.