Essay on The Economics of Wind Power

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The dependence on power for society has been increasing for centuries. There is a need by society to utilize the power it generates for consumptive purposes. The amount of power and the type of power that is generated has been found to have conflicting effects on the environment. The environment is one of the biggest concerns that interest people when it comes to the kind of power that is produced. Environmental activist play important roles in helping to monitor and strives to support regulations by the government on power sources. These environment supporters see the long term effect of government policy on their communities. Furthermore, due to environmental concerns the government implemented the 1990 Clean Air Act which strives …show more content…
The statistics of wind energy is as follows in 2010 worldwide capacity of wind-powered generators was 197 gigawatts (GW). Wind power has the capacity to generate 2.5% or 430 TWh annually of worldwide electricity usage. The average annual growth of new installments over the last 5 years has been 27.6 %. By the year 2018, wind power is expected to have 8% market penetration. However, many European nations have already achieved high levels of penetration. The stationary electricity production in Demark is 21%, 18% in Portugal, 16% in Spain, 14% in Ireland and 9% in Germany during 2010. Other countries are moving toward wind power for commercial use around the world.
The typical large wind farm may consist of several hundred individual wind turbines which are connected. More recently, offshore wind farms harness the better wind speeds that are available offshore than on land. In terms of supply, the offshore farms tend to generate relatively higher wind power. The distinctive small onshore wind sites provide electricity to isolated location and utilities are increasing buying surplus electricity produced domestically. Interestingly, small wind farms are resources for economic benefits in their domestic environment. Wind power rarely creates problems when using wind power to supply up to 20% of total demand. Nonetheless, as the percentage rises there are increased costs, therefore the need to use storage such as

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