The cost of a wind turbine varies widely depending on its size, type, and location. Here is a detailed overview:
Commercial Wind Turbines (Onshore and Offshore)
- Onshore commercial turbines typically generate 2 to 3 MW and cost around $1 million per MW of capacity. This means a typical turbine costs between $2.5 million and $4 million
- Offshore turbines are larger and more expensive, with capacities up to 12 MW or more. The cost for offshore turbines is about $1.5 million per MW, so a 10 MW turbine could cost around $15 million, and the largest 12 MW turbines can cost up to $400 million to manufacture and install
- The total cost includes manufacturing, transport, installation, operations, and maintenance. Manufacturing is the largest portion of the cost
Residential Wind Turbines
- Small residential turbines range from 0.5 kW to 100 kW.
- Roof-mounted small turbines cost about $3,000 on average.
- Larger freestanding residential turbines can cost up to $100,000 depending on size and installation specifics
- A complete home wind power system large enough to meet an average home's full energy demands typically costs between $20,000 and $80,000
Cost Breakdown Example for a Medium-Sized 2 MW Turbine
- Turbine purchase: $1.3 million to $2.2 million
- Site preparation and construction: $200,000 to $400,000
- Grid connection: $150,000 to $500,000
- Shipping and logistics: $60,000 to $120,000
- Installation and commissioning: $300,000 to $500,000
- Permitting and legal fees: $50,000 to $100,000
- Insurance: $20,000 to $40,000
- Engineering and design: $100,000 to $250,000
- Total estimated cost: approximately $2.18 million to $4.13 million
Trends
- Costs have risen recently due to inflation, commodity prices, interest rates, and supply chain issues, with turbine capital expenditure around $1,500 per kW in 2022, up from $1,300 per kW previously
- However, global costs for wind and other renewables are expected to continue falling by 2-11% in 2025 due to technology improvements and manufacturing scale
In summary, a typical commercial wind turbine costs between $2.5 million and $4 million, with offshore turbines costing significantly more, while residential turbines range from a few thousand to around $100,000 depending on size and installation
