A system for monitoring of wind turbine components, the system comprises an independent data processing environment adapted to: - receive by an environment data interface a first category of data input, wherein the first category of data input is related to operation of the wind turbine, - process the received data input by one or more component specific monitoring algorithms, wherein the component specific monitoring algorithm is adapted to establish an estimated component value related to a component to be monitored based on received first category data input having at least indirectly impact on the component, wherein the component specific monitoring algorithm is adapted to establish a component residual as the difference between the estimated component value and received first category of data input of the component to be monitored, and wherein the component specific monitoring algorithm is furthermore adapted to establish a component specific health value of the component to be monitored based on the established residual, and - by the environment data interface put the health value at disposal for data processors outside the environment wherein the environment data interface furthermore is adapted to receive second category of data input, wherein the second category of data input is related to a failure rate of the wind turbine component to be monitored and established based on already carried out service of the wind turbine component, and wherein the component specific monitoring algorithm furthermore is adapted to update the component specific health value based on the received second category of data input and the present health value. - receive by an environment data interface a first category of data input, wherein the first category of data input is related to operation of the wind turbine, - process the received data input by one or more component specific monitoring algorithms, wherein the component specific monitoring algorithm is adapted to establish an estimated component value related to a component to be monitored based on received first category data input having at least indirectly impact on the component, wherein the component specific monitoring algorithm is adapted to establish a component residual as the difference between the estimated component value and received first category of data input of the component to be monitored, and wherein the component specific monitoring algorithm is furthermore adapted to establish a component specific health value of the component to be monitored based on the established residual, and wherein the component specific monitoring algorithm is adapted to establish an estimated component value related to a component to be monitored based on received first category data input having at least indirectly impact on the component, wherein the component specific monitoring algorithm is adapted to establish a component residual as the difference between the estimated component value and received first category of data input of the component to be monitored, and wherein the component specific monitoring algorithm is furthermore adapted to establish a component specific health value of the component to be monitored based on the established residual, and - by the environment data interface put the health value at disposal for data processors outside the environment wherein the environment data interface furthermore is adapted to receive second category of data input, wherein the second category of data input is related to a failure rate of the wind turbine component to be monitored and established based on already carried out service of the wind turbine component, and wherein the component specific monitoring algorithm furthermore is adapted to update the component specific health value based on the received second category of data input and the present health value.