Wind energy is used on large scale in some countries for generating electricity. As a result, the cost of electricity production from wind energy has come down by a whopping 80 per cent in the last two decades. Wind power cost has decreased from 30 cents per kilowatt-hour to around 5 cents per kilowatt-hour in this time.
This decrease in wind power cost figures can be attributed to the development of better machines that are being used to harnessing the energy of wind.
Wind energy systems have helped in decreasing our dependence on the fossil fuel plants. Use of wind power plants is eco-friendly too, and helps to keep the general environment clean with a never ending supply of clean, cheap energy.
Power generation from wind turbines increases with increasing wind speeds. Wind systems require wind speeds of at least 5 to 7 meters/second to produce the desirable quantity of power. Therefore, selecting a good location for installing the wind power system has prime importance.
Wind power cost reductions are possible with the help of smart financing methods. The cost of wind power falls if it is an investor owned utility. If it is owned by an individual investor, the cost per kilowatt-hour will be greater.
The price of large units suitable for commercial use ranges from 1 to 2 million dollars. These units are capable of powering approximately 150-250 homes.
If your electricity requirements are minimal smaller, much cheaper, units can be used as well. You can also build you own wind power unit.
You should estimate your energy requirements before you select a wind turbine.
For, a homeowner, a turbine is available in the price range of $20,000 to $40,000. However, building your own wind generator now is a real option as there are many sources of information to help you, including on the internet.
So building your own wind turbine is something you should strongly consider. You can save two thirds of the money by buying parts and assembling them yourself with a good guide book and sourcing your widely available materials locally.
Wind energy to power your home is something that you should really consider due to the renewable nature of it and it's cleanness.