Comparative analysis of wind energy production in Oklahoma

Scope and method of study. In the last decades humanity has realized the necessity of developing alternative energy sources for its efficient economic development and simple survival in the future. During the last 30 years major improvements were made in renewable energy technologies and they started to become competitive with traditional energy sources (fossil fuels), especially with consideration of external costs. Among the renewable energy sources, wind energy is one of the cheapest and fastest growing nowadays.; Oklahoma is a very promising site for wind energy development considering its excellent wind resources. Developing wind energy can allow not only electricity production for in-state consumption, but also exporting to other states. The development of wind energy could encourage economic growth with very few adverse impacts on the environment. However, traditional energy sources are still the cheapest and, thus, the introduction of the wind energy in Oklahoma should be critically analyzed from economic, ecological and social points of view.; The goal of this study is to conduct analysis of wind energy electricity production in Oklahoma on the four main stages: (1) Investment Analysis from Private Perspective: Calculate present value net benefits for wind energy and traditional energy (natural gas), make sure that both of them are positive. (2) Investment Analysis from Social Perspective: Evaluate present value net private benefits (PVNPB) and present value net social benefit from both projects (PVNSB). (3) Government Subsidy Analysis: recognize the necessity of the subsidies and evaluate the amount of subsidies if any. (4) Investment Analysis from a Geographic Perspective: determine economic feasibility of wind power generation for 77 Oklahoma counties.; Findings and conclusions. The final output of the study is the recommendations concerning wind energy development in Oklahoma with consideration of economic efficiency, ecological and social impacts. Study not only analyze possibilities for wind energy development in the state, but make recommendations on the county by county basis with consideration of wind power density, land cost, property tax and infrastructure development in each county.