Final answer:
Wind power has grown substantially and can be economically competitive without subsidies, but factors like intermittency and limited ability to replace fossil fuels completely must be considered in determining its financial viability.
Step-by-step explanation:
Whether the wind power business model is financially viable without government subsidy can involve a complex analysis of market conditions, technological advancements, and energy demands. Wind power has seen significant growth and is increasingly competitive economically. It offers decent efficiency rating between 40-50% and boasts substantially lower CO₂ emissions compared to traditional fossil fuels. Furthermore, large-scale development of wind farms worldwide demonstrates the economic viability of wind energy. However, while wind energy can cover a meaningful fraction of energy demand and contribute significantly to the energy mix, it faces challenges including intermittency issues and the current inability to completely replace fossil fuels on its own. Therefore, the statement that wind power is now financially viable without government subsidy might be considered true to an extent due to its growth and potential for scale-up, but it is also important to recognize the limitations and the role of subsidies in facilitating the growth of the industry.