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Benefits of Texas Wind Energy Estimated to Exceed $3.3 Billion Annually
http://www.forbes.com/sites/peterdetwiler/2014/11/10/benefits-of-texas-wind-energy-estimated-to-exceed-3-3-annually/The American Wind Energy Association (AWEA) has just come out with an analysis highlighting the value of wind energy to the state of Texas, indicating that the overall societal benefits of the wind resource add up to about $3.3 billion annually. The gross annual savings to consumers are estimated at $1.2 billion.
As with any such analysis, the outcome depends upon specific assumptions that are made. However, whether the number is high or lower, the analysis – and its conclusions – is worth considering. Let’s break down the $3.3 billion number into its constituent elements so that we can better assess what is being put forth. The valuation is comprised of the following elements:
1) A reduction in the price of energy to Texas residents, since wind displaces more expensive resources on the margin, valued at $973 million.
2) A cut in sulfur dioxide (SO2) pollution, with an assigned cost of $652 million.
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