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The Trends of Wind Power Installation Costs  The installation cost of a wind turbine includes a wind turbine purchase, construction work, grid connection, planning, and land use expenses (IRENA 2018). The cost of wind power is forecasted to decline in 2030 compared to 2015 (Williams et al. 2017). Wind turbine design innovations and the variety of wind turbine offers by manufacturers are the current trends that drive wind power cost reductions. The weighted average costs for wind power installations have declined globally by 70 % between 1983 and 2017 from USD 4880/kW to USD 1477/kW (Figure 1).

Wind Power Costs and Benefits The costs and benefits of a wind power project vary depending on the wind turbine type, project capacity, location, energy mix, and energy system interconnections. The economic costs of wind power projects are: Capital,  Operations and maintenance, Network upgrade,  Voltage control,  Active power balancing (additional reserve and cycling),  Negative environmental externalities. The economic benefits of wind power projects are: Capacity,  Fuel-saving,  Environmental and health.