Wind farms in the U.S. currently produce 6.6% of the nation’s electricity and ranks second in the
world after China in total wind production.
Denmark produces 41% of its electricity from wind and the EU 14%.
Utilizing only U.S. wind resources on land this energy source could yield nine times the nation’s
current power needs. Offshore U.S. wind could meet almost twice the nation’s current electricity
demand.
If you have ownership of the right kind of property, you could be part of the solution while
making money from nothing but the wind! The ITC tax credit of 30%, dropping to 26% in 2020,
can be applied to wind projects and is a major driver of investment. The geographic location of
wind farms is very important and requires areas high in wind, low in bird migration pathways
and enough electrical infrastructure to accept this electricity into the grid system.
Even better, the cost of building and operating U.S. wind farms has dropped in recent years,
making them now fully competitive with the two other leading sources of new power generation:
solar photovoltaics and combined cycle gas.
According to investment firm Lazard, the levelized cost of land-based wind power ranges from
$29 to $56 per megawatt-hour; photovoltaics cost from $36 to $46 per megawatt-hour; and
combined cycle gas runs from $41 to $74 per megawatt-hour. Nuclear power is much more
expensive at $112 to $189 per megawatt-hour.
Wind technology has increased significantly. Today’s average wind turbine is three times taller
than in the 1990’s. Winds are strong and more consistent at higher altitudes. This allows modern
wind farms to tap the stronger, more constant winds that prevail at higher altitudes. The wind
power increases with the cube of the wind speed. In other words: doubling the wind speed gives
eight times the wind power.
A further boost to output comes from development and use of much larger rotors. Applying the
formula for the area of a circle (A= π r2), an increase in blade length (i.e. rotor radius) translates
into a disproportionate expansion of the rotor’s “swept area,” a key to determining the amount of
wind that is captured and converted into electricity.
Wind produces 20 grams or less of CO2 equivalent per kilowatt-hour. The most efficient natural
gas plants that use combined cycle technology produce more than 400 grams of CO2 equivalent
per kilowatt-hour. The most efficient coal plants generate almost 800 grams of CO2 equivalent
per kilowatt-hour.
We can help you with this location identification process and also assist in securing the ITC
funding and financing needed for your project. We can also assist you with USDA grant and loan
programs for your wind farm.