The Bison Wind Energy Center, just completed, in North Dakota: $500 million / 160 megawatts = $3,000,000/megawatt (
Off-shore, wind is, they say, more expensive. How much more expensive?
Cape Wind, off Massachusetts: $2.6 billion / 454 MW = $6 million/MW.
The London Array, phase I: 2.2 billion euros/630 MW (1 euro = $1.30); therefore, $2.86 billion/630 MW = $4.5 million/MW
So, this is is what we have:
- North Dakota: $3 million/MW.
- On-shore average, wiki: $1 million/MW
- Off-shore, London (England): $4.5 million/MW
- Off-shore, Massachusetts: $6 million/MW
Examples for cost comparisons:
Announced June 3, 2013: Universal Bioenergy Inc. announced that its subsidiary, NDR Energy Group, has signed ... with JSG Solar Inc., to build a solar power farm in eastern North Carolina, USA. The estimated cost to build the facility is $167 million. The project is projected to generate an estimated $301 million in revenues over 25 years.
The solar facility would be built on approximately 425 acres of land and generate 80-100MW (megawatts) of electricity for sale to electric public utilities in the North Carolina service area. The estimated annual electricity production is 143.9 million kilowatt hours (kWh).
- one section of farmland; not dual-use
- $167 million/100 MW = $1.67 million/MW
- $167 million / 25 years = $7 million/year
- at 5% borrowing rate, $8 million/year in the early years just for interest payments
- $300 - $170 = $130 million over 25 years = $5 million in revenue/year
- reminder: profits = revenue - costs (simplified)