Quite the opposite. Wind energy is the cheapest form of new generation in most parts of the country and can actually help consumers save money. The cost of wind energy has dropped by 70% in the past 10 years (Source: Lazard, “Levelized Cost of Energy Analysis,” Version 13.0, November 2019).
For a wind project to be successful, there has to be a buyer for the power it will produce. Generally this electricity is purchased by utilities, manufacturers, universities, or municipalities that demand large amounts of energy. These large-scale customers buy wind power because:
- Wind energy is a cost competitive energy source. The input costs for wind don’t change as the fuel for wind energy is free.
- Once a project is built, the cost of producing energy remains constant, so power purchase contracts “lock in” a predictable, steady electricity rate for 15 to 20 years.
- Wind energy is clean, reducing pollution and its associated health impacts while helping meet local renewable energy goals.