Cost of the Honeywell Small Wind Rooftop Turbine
The manufacturer's suggested retail price for the Honeywell Wind Turbine WT6500, including the Smart Box battery charge system, is $6,495. Tack on an additional $2,000 or so for installation, electrical wiring, and permit fees and you are looking at an approximate total of $8,495. So, how long would it take to recoup your investment?
To figure out how long it would theoretically take to recoup your investment, we will assume the turbine generates the maximum estimated output of 2,500 kWh. First we will factor in the average yearly price of electricity. According to the U.S.Energy Information Administration (EIA) of the Department of Energy, "In 2008, the average annual electricity consumption for a U.S. residential utility customer was 11,040 kWh, at an average price of 11.26 cents a kWh."
To figure out how much it costs to recoup your costs, we will divide the total cost of purchase, installation, electrical wiring and permit fees of the Honeywell Wind Turbine WT6500 by the approximate average residential electricity price per kWh to determine how many kWh of purchased electricity it takes to equal the total cost of the turbine.
$8,495 / .11 = 77,227 kWh
Then we will divide the kWh equal to the total cost of the turbine by the maximum estimated yearly kWh generated by the turbine to determine how many years it will take to recoup your total costs.
77,227 kWh / 2,500 kWh = 30.9 years
Generating 2,500 kWh of renewable energy a year with the Honeywell Wind Turbine saves you approximately $275 a year on your annual electrical bill, but it takes almost 31 years to break even with your investment costs of the turbine. In addition, the manufacturer estimates the Honeywell Wind Turbine has a 20 year lifespan. Considering the estimated lifespan of the turbine and the amount of years it takes to recoup your costs, you may end up losing money.
Reducing the Costs with Government Grants, Rebates, and Incentive Programs
Depending on your state, you may qualify for renewable energy grants and rebates that significantly lower the costs or even pay for the entire purchase and installation of your Honeywell Wind Turbine. Find grants, rebates and Incentive programs in your state at the Database for State Incentives for Renewables and Efficiency.