Overview of A Wind Project
Wind energy offers many financial, environmental, and social benefits to the communities and individuals who choose to get involved with it. Developing a wind project, however, can be a time-consuming and complex process. Before beginning, you will want to familiarize yourself with all of the necessary steps and gain a solid understanding of the elements of a wind project.
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Decisions
To participate in wind energy, you will need to make decisions about numerous options that exist for harvesting the wind. You should consider all your options before proceeding, since each option has its own risks and rewards. Additionally, there are various financial incentives and markets that may or may not apply to your situation. If incentives are available to you, these can also influence which option you choose. This fact sheet will help you begin to understand the basic options for participating in wind energy.
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Land Considerations
If you have plenty of wind flowing across your property, harnessing wind power can be a good investment. But to get the most out of your wind resource, you want to place a turbine, or several turbines, in the right place.
Where you place your turbine will depend upon a few key aspects: where the wind blows, the physical aspects of your property, zoning regulations, environmental concerns, how you wish to use the wind energy you produce, and your neighbors questions about site and noise.Keep in mind, with proper planning, you can site turbines that harness the wind power efficiently and are an impressive addition to your community.
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Wind Resource and Speeds
A precise understanding of your wind resource is the cornerstone of any wind project. While some of the best resources are found on agricultural lands, the power in the wind varies greatly from one location to another. There are two initial steps to determine the amount of wind available at your site.
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Wind Project Economics
One of the main benefits of wind energy is economic gain, both for individuals and for communities. Individuals can save money on their energy bills, and even make money by generating wind power. Communities can diversify their economies and enjoy greater reliance on local resources when their members invest in wind.
Of course, a wind project will provide these advantages only if the economics have been thought through in advance. Like any investment, wind energy projects require some research and a basic understanding of the risks, costs, and benefits involved.
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Business Structures
Let's assume you have established that you have a good wind resource on your property, and you decide to undertake a wind energy project. How will you do it? As with any business venture, there is more than one way to structure your involvement. Do you want to own a wind turbine by yourself, or join forces with a partner? Or do you want to sell or lease your land to someone else? The structure you choose for your wind energy business will depend on three main factors:
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