Economic benefits of wind power in Germany
Wind power developments in Germany have significant economic benefits. Financial benefits, such as discounted electricity, payments to the municipality, and payments for social purposes, increase the acceptance of wind energy projects among communities . Wind energy has positive output elasticity estimates and high substitutability with nuclear power, natural gas, and coal in the German power sector. The construction of wind turbines in Germany has been supported by guaranteed feed-in tariffs, contributing to the profitability of wind energy investments. Overall, wind power in Germany provides economic benefits through job creation, value added, avoided emissions, and the potential for energy independence. People have been using wind energy for centuries – originally to drive mechanical processes such as milling grain or pumping water. Today, it is used to generate electricity. The expansion of wind power in Germany is also gaining momentum on the high seas with offshore wind farms.Cut