Wind Turbine Cost

The cost of a wind turbine varies greatly from project to project.  One consistency in the cost of all wind turbines is that the initial cost of the investment is the most expensive point of the process of buying a wind turbine for your home.

Once all of the initial costs are taken care of, a wind turbine will no doubt have some maintenance costs to ensure that it is able to work efficiently for a long period of time.

The financial reason for purchasing a wind turbine is that in the long run you will save money on electricity bills, while also benefitting the environment by using a renewable energy source instead of fossil fuels.  The decision to purchase a wind turbine for your home should not be taken lightly, if you are not well educated on the subject, then lengthy research and assessment, or professional help is recommended before making a purchase.


The Cost of a Wind Turbine Today:

Again, the overall cost depends on many factors and varies greatly from project to project, but an estimate for the cost of a wind turbine for your home today could range from $5,000 – $80,000.

This price range is wide for a variety of reasons:

  1. The prices of wind turbines, like any other goods, change frequently with new technologies, changes in supply and demand, and changes in the cost of other options for generating electricity.
  2. The wind turbine cost is dependent on government tax credits and rebates. (learn more about wind energy tax credits) 
  3. Installation costs will vary, depending on if you choose to install yourself or hire an outside contractor.  An outside contractor could charge a fixed rate or an hourly rate.  In you install yourself the cost will be the cost of renting or buying tools and equipment.  If you already own the necessary tools and equipment then the installation cost will be zero.
  4. Depending on federal, state, and local laws there may be a permit fee required to construct a wind turbine.  There may also be a homeowner’s association fee required for construction.
  5. There may be an increase in your property taxes, although this is unlikely.
  6. The size and design of turbine needed for your specific location, as well as how much power your household requires will be a huge factor for the wind turbine cost.


Maintenance Cost for A Wind Turbine:

The owner of a wind turbine will most likely be faced with some maintenance costs if they want their wind turbine to perform efficiently and for long enough to receive a return on their investment.

If the required maintenance will take a long time, there will also be a cost for using an alternative source of energy to power your home.

If you needed financial help from a bank or a second mortgage, the cost of interest on paying back these loans can be considered as a scheduled maintenance cost.

Remember, wind turbine costs are the highest up front, but over time you will receive a return on your investment if you make a knowledgeable purchase and maintain your turbine to perform efficiently.