CLAIM: Wind energy is too expensive and can’t compete with other sources of electricity.
- Regions of the country that have experienced significant growth in wind energy over the last several years have also seen significant declines in wholesale power prices, according to Wall Street analysis firm Bernstein Research. (Source: Bernstein Research, May 21, 2009)
- A May 2012 study from Synapse Energy Economics Inc. concluded that “transmission-enabled wind energy leads to reduced electric market prices.” The study of midwest grid systems and wind energy found savings of $63 up to $200 per average consumer per month, depending on the amount of wind installed. (Source: Synapse Energy Economics Inc., http://bit.ly/JDVPUZ)
- Wind is one of the most cost-effective sources of new electricity generation in the United States – that’s one reason why wind has provided 35% of all electricity generation capacity since 2007. (Source: American Wind Energy Association, http://bit.ly/T4IzKk)
- In October 2011, the wholesale price of electricity in Texas dropped to $0.00 thanks to wind energy. According to the Dallas Morning News, this is because “Wind gets dispatched first, because it is the cheapest power generation to operate. So when the wind kicks up, and turbines begin turning, some higher-priced generators may be told to turn off.” (Source: Dallas Morning News, http://bit.ly/Re1Bzr)
- Analysts predict that over the next five years, the cost for electricity produced from new onshore wind farms will be lower than electricity from new advanced or conventional coal plants. (Source: Energy Information Administration, http://bit.ly/lp2udF)
- In a late-2011 order approving a wind power purchase by Xcel Energy, the state Public Utilities Commission stated that “the contract will save ratepayers $100 million on a net-present-value basis over its 25-year term under a base-case natural gas price scenario” while providing the opportunity to “lock in a price for 25 years…act[ing] as a hedge against future volatility of natural gas prices.” (Source: Colorado Public Utilities Commission, http://bit.ly/Nf8mje)
- The Southeast alone could save $23 billion by 2030 by investing today in renewable energy, with wind being the most competitive among all renewable sources. (Source: Georgia Tech University, http://bit.ly/cAOraY)