The cost of building an onshore wind farm is significantly lower than the cost of building an offshore wind farm.
The average cost of building an onshore wind farm is $2 million per megawatt, while the average cost of building an offshore wind farm is $4 million per megawatt.
This is due to the fact that onshore wind farms are easier to build and maintain than offshore wind farms. Onshore wind farms also have the advantage of being located on land, which means that they do not have to be built in deep water.
The cost of offshore wind power has been declining in recent years, but it is still more expensive than onshore wind power.
However, offshore wind power is becoming more cost-effective as the technology improves and as more offshore wind farms are built. The cost of offshore wind power is expected to continue to decline in the future, and it is possible that offshore wind power will become cost-competitive with onshore wind power in the next few years.
However, for the time being, onshore wind is still a huge opportunity for land owners in windy parts of the United Kingdom.
Get in touch if you would like discuss how you can earn a significant rental income by having a wind farm on your land, as well as help save the planet.