Wind power potential by itself is not a good indicator of the suitability of a region for wind power generation for different purposes. Economic attractiveness is a better indicator in this regard as it stimulates the involvement of private businesses in this sector. Naturally, the shorter is the payback period or the time required to reach profitability, the more attractive will be the project. Considering the high wind energy potential of some regions of Iran, this study evaluates the wind energy available for generating electricity as well as hydrogen by industrial and agricultural sectors in four cities of Ardebil province, namely Ardebil, Khalkhal, Namin, and Meshkinshahr, and then conducts an econometric analysis accordingly. Wind power potentials are evaluated using the energy pattern factor and Weibull distribution function based on 5-year meteorological data of the studied regions. Economic evaluations are performed based on the present worth of incomes and costs, which are estimated for two models of wind turbines with 3.5 and 100 KW rated power. Results indicate that the cities of Namin and Ardebil with wind power densities of respectively 261.68 and 258.99 W/m2 have the best condition. The economic analysis conducted for turbines shows that for Ardebil, installation of the 3.5 KW and 100 KW turbines will have a payback period of 13 and 5 years, respectively. For Khalkhal, Namin, and Meshkinshahr, the only feasible option is installation of the 100 KW turbine, which would result in a payback period of respectively 10.2, 6.1 and 8.7 years. Then it is investigated how much hydrogen can be gained if these private sectors invest in producing hydrogen using nominated wind turbines.