Quick Answer
To calculate the payback period for wind energy systems, you need to determine the total cost of the system, the annual savings, and then divide the cost by the savings. This calculation will give you the number of years it will take for the system to pay for itself.
Estimating Costs and Savings
To calculate the payback period, you need to estimate the total cost of the wind energy system, including the turbine, tower, generator, inverter, and any additional components. This can range from $3,000 to $20,000 or more, depending on the size and type of turbine. You also need to calculate the annual savings, which will depend on your electricity usage and local electricity rates. For example, if you use 10,000 kWh of electricity per year and the wind turbine produces 5,000 kWh, you will save $1,000 to $1,500 per year, depending on the local electricity rate.
Calculating Payback Period
Once you have estimated the total cost and annual savings, you can calculate the payback period using the following formula: Payback Period = Total Cost / Annual Savings. Using the example above, if the total cost is $15,000 and the annual savings are $1,200, the payback period would be 12.5 years. You can also use online calculators or spreadsheets to make this calculation easier.
Additional Considerations
When calculating the payback period, you should also consider other factors that can affect the system’s performance and savings, such as the wind speed and direction, turbine efficiency, and battery charging capabilities. For wind turbine battery charging systems, you may also need to consider the cost of the battery bank and the inverter, as well as any additional components required to charge the batteries. These costs and considerations can affect the payback period and overall savings of the system.
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