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 2016 report from the US investment firm Lazard found that wind energy is the lowest cost option for any new supply without any subsidies.
  • The cost of land-based wind farms is expected to continue to fall in the future. According to a June 2016 study by the International Renewable Energy Agency, the global average cost of onshore wind could fall by 26 per cent by 2025 as technological improvements continue to be made.
  • 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.

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Amazing facts about the affordability of wind energy

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  • 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

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