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On the other end of the spectrum, you also don’t want to be hit by rising rates as your pound won’t go as far as it once did.
This amounts to nearly three times the current price and is likely to amount to an effective subsidy of billions of pounds.
Although they are set to remain the predominant form of renewable energy in the next few years despite opposition in Westminster – which has stopped subsidies and given the final say on whether a project should go ahead to local residents – supporters of green energy say the country is missing a chance to maximise their potential.
The cost of onshore wind power has fallen from 8 (£70.20) per megawatt hour (m Wh) a year ago to today, as they become more efficient and cheaper to build.
“There’s still a tendency for the general public to believe that renewables are really expensive, while coal and gas are really cheap,” said Seb Henbest, of Bloomberg, which conducted the research.
“This is how it used to be not so long ago, but over the past five years technology costs have come down significantly, along with financing costs.” Luke Mills, also of Bloomberg, added: “Onshore wind and solar panels are both now much more competitive against established generation technologies than would have seemed possible only five or 10 years ago.” But campaigners say the Conservative Government has made it considerably more difficult for new onshore wind farms to be built since it took office.