The costs of wind turbines are often cited as the main reasons why wind power is not realistic.
The True Cost of Renewable Energy
As with anything else you might buy, the costs of wind turbines vary greatly, depending on your needs, your financing, and your overall energy output results. If you need a very large turbine or a set of turbines in an area, this will cost more than simply buying one wind turbine on its own. That said, most who decide to take advantage of wind energy will seek out ways to buy more than one in order to get the most energy production.
Most 2 MW wind turbines are going to cost at least $3 million dollars to install. This will include the actual turbine itself, not any labor fees, upgrades, electrical work, etc. For those who want a much smaller wind turbine, they might only cost a few thousand dollars to install and to use.
How to Pay for a Wind Turbine
Whether an individual or an organization wants to use a wind turbine, there are many ways to finance this endeavor. Since most people will want to create a wind farm for larger energy output, getting financing through a bank or lending organization is the best way to create the funding needed. These loans will be paid back over a certain period of time. What people interested want to know is that the energy output of a wind turbine will often pay for itself in extra energy which can be sold back to electrical companies. Depending on the extra output, some wind turbine owners have been able to pay back their costs in as little as three years.