Effect of relative cost of components on the cost of wind power plant

With increasing demand of electricity there is a huge need to shift to economically viable renewable energy sources. Wind energy seems to be an economically viable source of energy hence it is necessary to focus on economic aspects of it. In this paper an attempt has been made to find the effect of relative cost of components used for setting up a wind power plant on the total cost of wind power plant. Simulation results as obtained are used to propose the recommendations for reducing the overall cost of wind power plant.