| Overview of Renewable Energy |
| Security of Supply |
Global demand for energy is increasing at a breathtaking pace, which will require significant investment in new power generation capacity and grid infrastructure. Just as energy demand continues to soar, supplies of fossil fuels are dwindling and prices are at their most volatile position.
Wind energy, however, is a massive indigenous power source that is available virtually everywhere in the world. There are no fuel costs, no geo-political risk and no supply import dependency. |
| Economic considerations |
Wind energy makes sound economic sense. In contrast to other generation sources, the price for the fuel needed over the total lifetime of a wind turbine is well known: it is zero. This takes away a substantial part of the investor’s risk.
At many sites, wind power is already competitive with new-built conventional technologies and in some cases it is much cheaper. When taking into account the price of carbon, wind power is even more attractive.
Job creation and regional economic development are also key factors in economic considerations surrounding wind power.
Source: windpowerworks.com |
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