A typical onshore wind project requires a 6.75c/kWh power price and a $50/ton CO2 price to generate an unlevered IRR of 10%. Investors may be inclined to view 5-6% IRRs, lowering the incentive price to 5-6c/kWh even without a carbon price. The main cost is capex, which is disaggregated across 30 inputs.