Economic Viability of Wind Energy: A Cost-Ben...

Economic Viability of Wind Energy: A Cost-Benefit analysis of Wind Energy Installations

Author Name : Shayani Ghosh

EXECUTIVE SUMMARY Renewable energy is essential to our transition to a more sustainable and resilient energy system, unlike fossil fuels which are finite and contribute to greenhouse emissions and climate change. The economic viability of wind energy has become increasingly apparent in recent years, driven by factors such as technological advancement, growing concerns about climate change, and increasing demand for energy. This research paper aims to bring out the economic viability of wind energy systems in the framework ofself-industrial consumption, advancements in technology, and regulatory frameworks. It conducts a cost-benefit analysis to assess the financial feasibility of utilizing captive power generated through wind mill installations for self-industrial use. The study has considered the generation pattern in the state of Tamil Nadu by examining the initial capital investment, operational costs, potential revenue from surplus energy, and compares this against the DISCOM( Power distribution company).It investigates how future technical developments can affect the profitability of wind energy plants, which involves an examination of advancements in turbine design, rotor blades, manufacturing, and raw materials to analyse their effect on efficiency, cost, and reliability. Furthermore, the paper aims to acknowledge the role of regulatory frameworks in shaping the economic viability of wind energy projects. It evaluates the influence of government policies, incentives, and market regulations on investment confidence and project financing. Through an examination of these aspects, the research seeks to offer a thorough understanding of the financial viability of wind power plants.