02/04/2014 - 14:51
Renewable Energy Development Institute - REDI

Wind farms and small wind turbines can provide energy close to 30% cheaper than conventional electricity sources like coal-fired plants. On top of that, wind energy does not harm natural environment.

The report recently published in the US by the Michigan Public Service Commission introduces in numbers the benefits brought by investments in renewable energy resources. The figures show that clean wind power is up to 30% cheaper than conventional fossil fuels. The results unveil large cost variations across specific technologies. Average cost of production of one Megawatt hour (MWh) in coal-based power plants is equal to $133,00, while average cost of one MWh of clean wind energy is equal to $91,19. The report reveals, not only would a green switch make sense for climate reasons, but also purely economic ones.

Soon after the US report, a study of a Swiss technology institute was published in the monthly journal Natural Climate Change. Research scientists from the ETH Zürich proved that electricity generated by wind farms is definitely cheaper than the one based on conventional fossil sources. With one franc or euro of funding in new technologies of renewables, not only cheaper electricity could be produced but also the return on investments could be achieved much sooner.

How much will electricity really cost in the near future? The calculations show, that in 2030 we will be paying close to 42% more for energy from coal power plants, while cost of gas-based energy will increase up to 43%. According to European Wind Energy Association (EWEA) the price of electricity generated by wind power plants will not go up. Moreover in 2030 we will be paying 18% less for this type of energy. Wind farms and small wind turbines are expected to become even more competitive and economically cost-effective in terms of household budget.

People are forever trying to find new sources of renewable energy, so it isn’t surprising that they are especially interested in water and its versatility. Accordingly, much effort has been directed into obtaining energy from tidal and wave power, which are defined as circular movements of water molecules caused by wind that moves water surface through friction.