Wind is now an energy asset worth tens of millions of pounds that can be used to fund local services. For many decision-makers, this is extremely good news as energy prices soar and real incomes fall.

The challenge for many authorities is knowing exactly how to exploit their valuable wind assets. Fortunately, Rochdale BC is pioneering a renewable solution that could help councils across the UK to generate sustainable green incomes almost literally out of thin air.

Our twin goals are to become both energy self-sufficient and Britain's greenest borough. In so doing, we are also very keen to help other authority areas become the UK's second greenest!

We are now on track to become a proficient, municipal wind farm investor, developer and owner operating on behalf of its local community.

Over the next 25 years, potentially millions of green, renewable pounds sterling could flow into the authority's treasury. The potential is enormous. A single 0.5 MW turbine standing 50 metres high to the hub can generate returns of up to £9m for a £1.64m capital outlay.

There are a number of opportunities for wind energy projects that we can own and operate on behalf of our community.  Our objective is for individual citizens to become personal shareholders in renewable energy. The income generated from wind energy can also be used to protect and maintain essential frontline services.

These multiple aims have called for imaginative thinking. As an ethical investor in the zero-carbon wind industry, as well as an impartial planning authority for private-sector proposals, it has been important for the council to remove barriers that could limit local authority initiatives – including high wind farm feasibility costs.

Instead, Rochdale and a specialist wind energy company, ASC Renewables have worked together closely in a nominal cost approach that has delivered a comprehensive feasibility assessment of the borough's entire land holding. Rochdale is now preparing a four-phase 25-year strategy to maximise the municipal benefits.

The findings have given the council powerful options to invest in the best wind sites while they are still available. This has proved to be a game-changer. A pilot turbine project is underway and subject to cabinet approval, could see a tender being issued later this month for three medium-sized and up to eight smaller turbines.

The council uses 27.5GWh of electricity annually costing£2.8m in 2012-2013, which excludes street lighting and leisure sites. Its annual Carbon Reduction Commitment (CRC) tax bill in 2012 was £339,000. Clearly, there is significant scope for clean wind energy and Rochdale anticipates an annual financial return of 8.6% to 16.9%, depending on each project's final size.

Overall wind energy statistics are surprisingly positive. Two recent Comres and Opinium polls showed that 66% and 67% of people interviewed are well aware of the looming power crisis and welcome more wind farm development in their area. The fact that a set of four 2.5MW turbines can generate an income equivalent to a 3.5% council tax cut each year for 25 years is a strong incentive.

There is further encouraging news for councils. Local wind power can be sold to the national grid – at prevailing energy prices!

Similarly, when national energy prices soar, lower-cost wind power can be supplied to community users first. Meanwhile, the Government has guaranteed wind farm operators an additional Feed-in-Tariff subsidy income for the next 20 years.

However, there are other important UK gains. Small turbines can typically displace 14 tonnes of fossil-fuel carbon dioxide emissions annually. The figure for medium-sized 500kW turbines is some 630 tonnes; large 2MW to 3MW turbines save circa 2,500 and 3,800 tonnes respectively.

Rochdale would also be helping the UK to meet its current 10% renewable energy targetthat will rise to a legally-binding 15% by 2020 under the EU Renewable Energy Directive.

Even before recent power price hikes announced by the UK's largest energy suppliers, the Department of Energy and Climate Change's (DECC) predicted that energy prices could rise by a further 71% in the next decade. In the last ten years they rose on average by 91%.

Town halls have every incentive to act quickly.