More wind power in the national electricity system does not mean higher electricity bills at home.
Wind power is already directly competitive with conventional sources in many markets around the world, such as Canada, Mexico, Brazil, New Zealand, South Africa, and parts of China and the US.
For example, the current rate for wind power in Ontario in Canada is 11.5 cents per kWh, while nuclear’s all-in cost was between 25-28 cents/kWh. Wind energy is cost-competitive with all other new sources of electricity generation.
Another example comes from Montana, US, where wind facilities are able to produce energy at $47/MWh whereas cost for coal produced energy is $68 /MWh (EUR 6.8 cents/kWh).
Nuclear is considerably more expensive than wind energy. ‘In liberalised energy markets, building nuclear power plants is no longer a commercially feasible option: they are simply too expensive”, wrote The Economist in March 2012.
Because the fuel for wind power production does not have a cost, the cost can be predicted with great certainty, unlike the fluctuations in the price of oil, gas and coal. The increase in the oil price over the past few years from $20 to over $100 has added $45 billion to the EU’s annual gas import bill.
The more wind power produced, the less reliant it is on fossil fuels at unpredictable prices. And these savings are passed on to the end at home.
Posted in: Wind power myths