How new technology developments will lower wind energy costs

Wind Power is a clean and renewable energy technology that is generated, most commonly through the use of a three-bladed wind turbine mounted on a tall tower (80 m - 100 m). Although wind power is most commonly generated by larger, utility scale wind turbines (1.5 MW - 3 MW in size), smaller capacity (< 500 kW) wind turbines have also been used in commercial and community projects, but at a cost of almost three times higher than utility scale projects. There is strong public and political interest for utility wind power as part of the electrical generation portfolio, both worldwide and in Manitoba. Interest in wind energy has gained momentum as a newly commercialized technology because it is clean, renewable, and can address concerns about climate change, air pollution, and energy security. Thus, wind power is one of the fastest growing new generation technologies, and this pace of growth is likely to continue for several years. The desire to implement additional wind power, particularly in Manitoba, is generally due to two main causes: First, an assumption that wind power is an economic alternative to supply power locally or in the export market. Second, a belief that wind power provides other benefits such as diversity of supply to assist utilities to better withstand drought conditions at hydroelectric generating stations, jobs in rural areas, property taxes to municipalities, and lease payments to landowners, which in turn are presupposed to make up for its higher cost. The economics of wind power are primarily dependent on the wind resource available at the desired location of the wind turbine(s) and the amount of any available incentives that may assist with reducing capital or operating costs. Additionally, there may be lower cost electrical generation such as thermal or hydroelectric which competes with wind power, making it less attractive in certain areas. Advancements in wind turbine and auxiliary equipment technology continue to evolve internationally with emphasis on improving cost-effectiveness and reliability for components such as gearboxes, towers, blades and sensing equipment.