Wind power is a clean, emissions-free power-generation
technology. In 2011, the global wind power market rose 6 percent to
41 gigawatts, according to the Global Wind Energy Council. The
long-term technical potential of wind energy is believed to be five
times the total current global energy production, or 40 times
current electricity demand.
One of the most important economic benefits of wind power is
that it can reduce an economy's exposure to fuel-price volatility.
While all regions that rely on fossil fuels are exposed to the risk
of volatile and unpredictable fuel prices, regions such as island
nations that have no indigenous fossil-fuel sources and must import
all petroleum products are at significantly greater risk. For those
regions, wind energy can not only reduce energy costs and carbon
emissions but also create a reliable electricity supply.
Wind energy projects provide buyers an opportunity to sign
long-term power-purchasing contracts with fixed or largely
predictable, general price level indexed prices. Variable costs are
low, and most ownership and operating costs are known in advance
with great certainty.