What is the cost of renewable energy?
This is a trick question. Renewable energy, by definition, is free, because it uses unlimited energy sources, such as water, solar, and wind. No matter how much wind we convert to electricity, there will always be more wind. Wind is free to use and can be found in abundance. Converting wind to electricity by way of an electrical generator, on the other hand, requires research, technology, equipment, and upkeep. These cost money, and the investment in renewable energy is often cost-prohibitive. As a result, renewable energy is rarely used by today’s consumers in the residential sector. The renewable energy industry in the United States is growing, however, with incentives offered by the government and projects supported by the Department of Energy. Renewable energy is making history.
According to the American Wind Energy Association (AWEA, http:///www.awea.org), a small wind energy system capable of generating enough power to operate a typical residential home costs about $40,000 installed. At that rate, the AWEA reports that a homeowner’s return on investment might take anywhere from six to thirty years, based on energy savings seen from the installed system. This savings is also highly dependent upon geography, since many locations see higher wind volumes than others. However, residential wind energy systems in general are becoming more cost effective thanks to the tax credit available via Obama’s 2009 American Recovery and Reinvestment Act. Piggybacking on the Emergency Economic Stabilization Act of 2008, and the Energy Policy Act of 2005 (EPACT) before it, the 2009 Act is helping to put renewable energy on the map. Tax credits available to homeowners may cut the return on investment in half. Consumers, then, must take stock of their personal situations before deciding to invest in a wind energy system. Environmentally conscious Americans who realize the benefits to our Earth and who plan to live in their home for at least fifteen years are a strong target market for a wind energy generator.
Residential wind energy systems include a wind turbine, which is a large collection of rotating blades. The equipment needs plenty of room to spin freely, and so must be installed high enough, and away from trees, power lines, buildings, and other potential obstructions. Rural homes are typically better suited for the installation of wind energy systems than suburban homes, and city homes are rarely capable of handling the equipment. Here’s how it works: The turbine is connected to a shaft, which is connected to a generator. The generator then produces electricity. In addition to these pieces of equipment, the installation package must include a connection to your home’s power intake, allowing the generator to run the electricity demands of the house. One concern that homeowners must consider is the intermittent nature of wind. Generated electricity can only be stored via a bank of batteries, so that should be included in the wind system installation.
Homeowners interested in more information about wind energy systems can visit the AWEA for all the facts.