What Are Wind Power?

931 WordsApr 20, 20164 Pages
Wind Power •Why did you choose this product or service? What are its interesting features? I chose wind power because it is a clean source of energy and I believe that as a global economy we are very badly in need of clean alternative energy sources. The interesting features of wind power are that wind is a constant renewable source for our planet and mankind has been harnessing the power of wind for many centuries. For centuries we have used the power from the wind for sailing and farmers used the power of wind to grind grains and pump water. •How profitable is it? What is its potential? To find its potential, perform a SWOT analysis. The wind power or wind energy industry is a very profitable business. It has a high entry barrier due to the very expensive entry into this industry. That high cost of entry means profit return is slower but it is much higher due to the extremely low operating costs. SWOT ANALYSIS Strengths 1. Free Wind – The energy created comes from the wind which is free and will not be subject to supply market fluctuations like other fuels. This means very low operating costs. 2. Green Energy – Wind turbines while creating energy do not create the greenhouse gasses like some other sources of energy production. 3. Unlimited Resource – We will never run out of wind as long as the sun is around because wind is created by the sun heating the earth’s atmosphere. 4. Small Footprint – Wind turbines take up a very small amount of land space. 5. Entry

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