Cost Of Wind Energy: 3 Reasons Why It Has Become A Deal

The cost of wind energy is steadily decreasing in comparison with the alternatives these days

. With the alternatives dwindling and the cost or energy from traditional sources going through the roof, wind energy has become a much more feasible way to electrify one's house.In the past, all renewable energy sources, including wind power were very expensive. It was hard to rationalize buying one unless you were simply trying to prove a social point. Many people actually did that and bought wind turbines regardless of their cost. However, market forces of late are making financial sacrifices like this on the part of the buying public less and less necessary to rationalize purchasing one of these devices.

These are the reasons the cost of wind energy has become so much more tolerable lately

The alternatives have become more expensive - With the cost of energy from fossil fuel powered utility power plants being totally controlled by shrinking supplies in volatile world commodity markets, the price of energy delivered to our homes has gone up dramatically in recent years.

Economies of scale have caused prices of the actual wind equipment to come down- It is amazing how production efficiency will feed upon itself. The more wind turbines that are out in the field and installed for people use, the lower prices become for the next round of people that purchase them. When people buy these pieces of equipment, or any device for their homes, word gets out that this is becoming a more popular device which tends to spawn more manufacturers and more competition. That additional competition will drive the price down even further.

Government subsidies - The world has become friendlier to renewable energy of all kinds. This has made it fashionable for governments to get in on the act. Truthfully though, the renewable energy revolution and the cost of wind energy would not be coming down now if it weren't for government support through financial incentives. The U.S. Government now offers a 30% tax break for people investing in wind turbine kits and other renewables at their homes. (That is 30% of the total installed cost now, not just the purchase price, so that is one more enormous incentive to act.)

In summary, the cost of wind energy is getting to the point where it is a good alternative to power purchased from a utility. Although traditionally it is been very hard to beat energy or electricity made in a central processing plant out of fossil fuels, renewable energy products are starting to get that kind of traction. The market is responding to people's desire to become more Green and the prices are coming down commensurately, which will only lead to lower prices and more acceptance overall.

by: Roger Brown

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