This paper uses traditional financial cash flow techniques to examine the impact of different ownership and financing structures on the cost of renewable energy, specifically wind power, Most large, non-hydroelectric renewable energy projects are developed, owned and financed by private nonutility generators, Recently, however, US utilities have begun to consider owning and financing their own wind power facilities rather than purchasing power from independent renewable energy suppliers, Utilities in other countries have also expressed interest in direct renewable energy investments, A primary justification for utility ownership of wind turbine power plants is that utility self-financing and ownership is cheaper than purchasing wind energy from non-utility renewable energy suppliers, The results presented in this paper support that justification, although some of the estimated cost savings associated with utility ownership are a result of suboptimal utility analysis procedures and implicit risk shifting, Financing terms and variables are shown to significantly impact wind power costs.