Affordable Power

Facts

  • Wind energy has successfully moved from a marginal alternative to among the lowest cost options for new electricity generation. Wind energy is now more cost-competitive than new coal, hydro and nuclear power. A 2015 report from the US investment firm Lazard found that wind energy is the lowest cost option for any new supply without any subsidies.
  • The fuel that turns the turbine blades is free; this means that once a wind farm is built, the price of electricity it produces is set and remains at that level for the entire life of the wind farm.
  • Traditional sources of energy are open to extreme price volatility, so the long-term cost-certainty and stabilizing effect of electricity rates from wind farms provide important protection for consumers.
  • The cost to build wind energy continues to decline, with dramatic drops over the past three years while significant efficiency gains are being realized in modern technology and siting.
  • Wind projects have very short construction periods and can be deployed quickly with positive impacts delivered to local communities.

feature-image-affordable-power


Amazing facts about the affordability of wind energy

Facts-About-Affordability-Wind-Energy

  • There is an urgent need to invest in new electricity generation and infrastructure after decades of underinvestment. According to the Conference Board of Canada, $347 billion in investment in Canada’s electricity system is required between now and 2030 – and all of these costs will be passed on to consumers.
  • According to the Ontario Energy Board, 45 per cent of the increase in Ontario’s global adjustment since 2006 is due to nuclear power, while only 6 per cent of the increase is due to renewable energy.
  • Wind energy is now the lowest-cost option for new electricity supply in most Canadian provinces. For example, contracts awarded in Hydro-Quebec’s most recent request for wind proposals, set a new low average price for wind in Canada of 6.3¢/kWh

Resources