EU Analyzes Wind Power to be the Cheapest Form of Energy

Published By : 13 Oct 2014 | Published By : QYRESEARCH

A new report published by EU states, onshore wind is much cheaper as compared to coal, nuclear energy, or gas. The cost for onshore wind energy is thoroughly reduced when external agents such as climate change, human toxicity, and quality of air are taken into consideration. 

According to the report, the onshore wind costs around EUR 105 per MW/h as compared to coal and gas whose costs go up to EUR 233 per MW/h  and EUR 164 respectively. The other inexpensive sources of energy are nuclear power, solar energy, and offshore wind at around EUR 125 per MW/h.

Justin Wilkes, the deputy CEO of European Wind Energy Association (EWEA) stated, the report sheds light on the real cost Europe has been incurring on fossil fuels. As renewable sources of energy are too expensive, in a given economy, they take a toll on a taxpayer. The report is a useful tool for Europe at the moment, as it not only highlights the alarming cost of coal but also puts forth option of using onshore wind as an alternative energy option at a much cheaper cost.

The report show that the renewable energy sector too about EUR 38.9 billion of public subsidies in 2012 as compared to EUR 22.3 billion for gas, nuclear energy, and gas. The paper which has been compiled by Ecofys consultancy for European commission also hints at the fact if Conservative party were to restrict new onshore windfarms, it will translate to blocking out cheapest energy source when health and environmental facts have to be taken into consideration.
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