scholarly journals The Influence of Policy Risk on Swiss Wind Power Investment

2021 ◽  
pp. 345-368
Author(s):  
Anna Broughel ◽  
Rolf Wüstenhagen
Keyword(s):  
Wind Energy ◽  
Wind Power ◽  
Risk Premium ◽  
Winter Season ◽  
Discounted Cash Flow ◽  
Reference Case ◽  
Levelized Cost Of Electricity ◽  
Policy Risk ◽  
Domestic Electricity ◽  
Permitting Process

AbstractWind energy is one of the most affordable and fastest-growing sources of electricity worldwide. As a large share of wind power generation occurs in the winter season, it could make an important contribution to seasonal diversification of domestic electricity supply. However, the development of wind energy projects in Switzerland has been characterized by long and complex administrative processes, with the planning phase taking up to a decade, more than twice as long as the European average. The objective of this chapter is to quantify the risk premium that lengthy permitting processes imply for wind energy investors in Switzerland and to suggest ways to reduce policy risk. The data have been gathered through 22 confidential interviews with project developers and several cantonal permitting agencies as well as a review of federal and cantonal regulatory documents. Furthermore, a discounted cash flow model was built to compare the profitability indicators (IRR, NPV) and the levelized cost of electricity (LCOE) of a reference case to scenarios with various risks—for example, delays in the permitting process, downsizing the project, or changes in the regulatory environment such as phasing out feed-in tariffs. The model shows that the highest profitability risks are related to the availability of a feed-in tariff, but other changes in the permitting process can also have a critical impact on the project’s bottom line. The findings illustrate a significant policy risk premium in the pre-construction stage faced by wind energy project developers in Switzerland.

scholarly journals Economic feasibility of wind and photovoltaic energy in Kuwait

2021 ◽  
Vol 280 ◽  
pp. 05016
Author(s):  
Waleed K. Al-Nassar ◽  
S. Neelamani ◽  
Teena Sara William
Keyword(s):  
Wind Energy ◽  
Wind Power ◽  
Power Plants ◽  
Capital Expenditure ◽  
Thermal Power ◽  
High Energy ◽  
Economic Feasibility ◽  
Offshore Wind ◽  
Solar Pv ◽  
Levelized Cost Of Electricity

The worldwide environmental concern and awareness created a way towards the generation of pollution-free wind and solar renewable energies. Wind and Photovoltaic (PV) power plants of each 10 MW capacity located in the Shagaya area, west of Kuwait, were compared after one year of operation. The wind power plants recorded high capacity factors resulting in a yearly power production of 42.59 GWh, 21% higher than expected (contractual 31.160 GWh). It will reduce the emission of CO2 throughout the projected lifetime of 25 years by 118,303 tons. CAPEX (capital Expenditure) and OPEX (operation expenditure) were taken into consideration throughout the life of the plants along with investment costs resulting in a levelized cost of electricity (LCOE) for wind of 0.015 KWD/kWh or 0.046 USD/kWh, compared to 0.027 KWD/kWh or 0.082 USD/kWh for solar PV (44% lower than PV). Offshore, Boubyan Island, Northern Kuwait territorial waters, were found to be the foremost appropriate for wind energy generation, with Wind Power Density of more than 500 Watt/m2 in summer which is ideal for the high energy demanding season in Kuwait. The LCOE for offshore wind energy was 27.6 fils/kWh, compared to 39.3 fils/kWh for thermal power plants.

scholarly journals Systematic Investigation of Integrating Small Wind Turbines into Power Supply for Hydrocarbon Production

Energies ◽  
2020 ◽  
Vol 13 (12) ◽  
pp. 3243
Author(s):  
Zi Lin ◽  
Xiaolei Liu ◽  
Ziming Feng
Keyword(s):  
Wind Energy ◽  
Wind Power ◽  
Wind Turbines ◽  
Meteorological Data ◽  
Oil Production ◽  
Economic Feasibility ◽  
Offshore Wind ◽  
Levelized Cost Of Electricity ◽  
Small Wind Turbines ◽  
Power Curves

In this paper, the technical and economic feasibility of integrating SWTs (Small Wind Turbines) into remote oil production sites are investigated. Compared to large turbines in onshore and offshore wind farms, SWTs are more suitable for individual power generations. A comprehensive approach based on wind energy assessment, wind power prediction, and economic analysis is then recommended, to evaluate how, where, and when small wind production recovery is achievable in oilfields. Firstly, wind resource in oilfields is critically assessed based on recorded meteorological data. Then, the wind power potential is numerically tested using specified wind turbines with density-corrected power curves. Later, estimations of annual costs and energy-saving are carried out before and after the installation of SWT via the LCOE (Levelized Cost of Electricity) and the EROI (Energy Return on Investment). The proposed methodology was tested against the Daqing oilfield, which is the largest onshore oilfield in China. The results suggested that over 80% of the original annual costs in oil production could be saved through the integrations between wind energy and oil production.

scholarly journals A climatological assessment of balancing effects and shortfall risks of photovoltaics and wind energy in Germany and Europe

2019 ◽  
Vol 16 ◽  
pp. 119-128 ◽  
Author(s):  
Frank Kaspar ◽  
Michael Borsche ◽  
Uwe Pfeifroth ◽  
Jörg Trentmann ◽  
Jaqueline Drücke ◽  
...  
Keyword(s):  
Wind Energy ◽  
Wind Power ◽  
Energy Production ◽  
Surface Radiation ◽  
Seasonal Cycles ◽  
Solar Pv ◽  
Combined System ◽  
Reference Case ◽  
Regional Reanalysis ◽  
The Impact

Abstract. With an increased share of solar and wind energy e.g. in the German and European energy systems it is becoming increasingly important to analyze the impact of weather variability on the reliability of the energy production. In this study, we calculate solar PV and wind power capacity factors using two recently developed climatological datasets that provide information with high spatial and temporal details on the continental (European) scale and are of sufficient length for assessments at climatological time scales: Surface radiation derived from meteorological satellites (SARAH-2) and wind speed from a high-resolution regional reanalysis (COSMO-REA6). Balancing effects are analysed: On average, the seasonal cycles of PV and wind power production complement each other in Germany as well as in Europe. The frequency of events with a risk of low electricity generation is analyzed under different assumptions. When using wind energy over German land areas as a reference case, the results illustrate that the number of low production events is reduced when Germany's Exclusive Economic Zone is included into the analysis, or when a combined system of PV and wind energy is considered. A European-wide analysis also leads to a distinct reduction of such events.

Power Electronics for Grid Integration of Wind Power Generation System

2016 ◽  
Vol 9 ◽  
pp. 10 ◽  
Author(s):  
Michael S Okundamiya
Keyword(s):  
Power Generation ◽  
Wind Energy ◽  
Power Electronics ◽  
Wind Power ◽  
Renewable Energy Sources ◽  
Wind Power Generation ◽  
Generation System ◽  
Electricity Grid ◽  
Power Generation System ◽  
Promising Source

The rising demands for a sustainable energy system have stimulated global interests in renewable energy sources. Wind is the fastest growing and promising source of renewable power generation globally. The inclusion of wind power into the electric grid can severely impact the monetary cost, stability and quality of the grid network due to the erratic nature of wind. Power electronics technology can enable optimum performance of the wind power generation system, transferring suitable and applicable energy to the electricity grid. Power electronics can be used for smooth transfer of wind energy to electricity grid but the technology for wind turbines is influenced by the type of generator employed, the energy demand and the grid requirements. This paper investigates the constraints and standards of wind energy conversion technology and the enabling power electronic technology for integration to electricity grid.

scholarly journals Life Cycle Cost of Electricity Production: A Comparative Study of Coal-Fired, Biomass, and Wind Power in China

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3463
Author(s):  
Xueliang Yuan ◽  
Leping Chen ◽  
Xuerou Sheng ◽  
Mengyue Liu ◽  
Yue Xu ◽  
...  
Keyword(s):  
Power Generation ◽  
Life Cycle ◽  
Wind Power ◽  
Life Cycle Cost ◽  
Raw Material ◽  
Electricity Production ◽  
Maintenance Cost ◽  
External Cost ◽  
Levelized Cost Of Electricity ◽  
Cost Of Electricity

Economic cost is decisive for the development of different power generation. Life cycle cost (LCC) is a useful tool in calculating the cost at all life stages of electricity generation. This study improves the levelized cost of electricity (LCOE) model as the LCC calculation methods from three aspects, including considering the quantification of external cost, expanding the compositions of internal cost, and discounting power generation. The improved LCOE model is applied to three representative kinds of power generation, namely, coal-fired, biomass, and wind power in China, in the base year 2015. The external cost is quantified based on the ReCiPe model and an economic value conversion factor system. Results show that the internal cost of coal-fired, biomass, and wind power are 0.049, 0.098, and 0.081 USD/kWh, separately. With the quantification of external cost, the LCCs of the three are 0.275, 0.249, and 0.081 USD/kWh, respectively. Sensitivity analysis is conducted on the discount rate and five cost factors, namely, the capital cost, raw material cost, operational and maintenance cost (O&M cost), other annual costs, and external costs. The results provide a quantitative reference for decision makings of electricity production and consumption.

scholarly journals Numerical Weather Prediction and Artificial Neural Network Coupling for Wind Energy Forecast

Energies ◽  
2021 ◽  
Vol 14 (2) ◽  
pp. 338
Author(s):  
Lorenzo Donadio ◽  
Jiannong Fang ◽  
Fernando Porté-Agel
Keyword(s):  
Machine Learning ◽  
Wind Energy ◽  
Wind Power ◽  
Numerical Weather Prediction ◽  
Wind Farm ◽  
Weather Prediction ◽  
Wind Power Forecasting ◽  
Numerical Weather ◽  
Artificial Neural ◽  
Power Forecasting

In the past two decades, wind energy has been under fast development worldwide. The dramatic increase of wind power penetration in electricity production has posed a big challenge to grid integration due to the high uncertainty of wind power. Accurate real-time forecasts of wind farm power outputs can help to mitigate the problem. Among the various techniques developed for wind power forecasting, the hybridization of numerical weather prediction (NWP) and machine learning (ML) techniques such as artificial neural networks (ANNs) are attracting many researchers world-wide nowadays, because it has the potential to yield more accurate forecasts. In this paper, two hybrid NWP and ANN models for wind power forecasting over a highly complex terrain are proposed. The developed models have a fine temporal resolution and a sufficiently large prediction horizon (>6 h ahead). Model 1 directly forecasts the energy production of each wind turbine. Model 2 forecasts first the wind speed, then converts it to the power using a fitted power curve. Effects of various modeling options (selection of inputs, network structures, etc.) on the model performance are investigated. Performances of different models are evaluated based on four normalized error measures. Statistical results of model predictions are presented with discussions. Python was utilized for task automation and machine learning. The end result is a fully working library for wind power predictions and a set of tools for running the models in forecast mode. It is shown that the proposed models are able to yield accurate wind farm power forecasts at a site with high terrain and flow complexities. Especially, for Model 2, the normalized Mean Absolute Error and Root Mean Squared Error are obtained as 8.76% and 13.03%, respectively, lower than the errors reported by other models in the same category.

scholarly journals Evaluation of offshore wind power in the China sea

2021 ◽  
pp. 014459872199226
Author(s):  
Yu-chi Tian ◽  
Lei kou ◽  
Yun-dong Han ◽  
Xiaodong Yang ◽  
Ting-ting Hou ◽  
...  
Keyword(s):  
Wind Energy ◽  
Wind Power ◽  
Energy Development ◽  
Offshore Wind ◽  
Human Beings ◽  
Offshore Wind Power ◽  
Business Operation ◽  
Advantages And Disadvantages ◽  
Wind Energy Development ◽  
The Impact

With resource crisis and environmental crisis increasingly grim, many countries turn the focus to pollution-free and renewable wind energy resources, which are mainly used for offshore wind power generation, seawater desalination and heating, etc., on the premise that the characteristics of resources are fully grasped. In this study, the evaluation of offshore wind energy in offshore waters in China, as well as the advantages and disadvantages of existing studies were overviewed from four aspects: the spatial-temporal characteristics of wind energy, wind energy classification, the short-term forecast of wind energy and the long-term projection of wind energy, according to the research content and the future considerations about wind energy evaluation (evaluation of wind energy on islands and reefs, the impact of wind energy development on human health) were envisaged, in the hope of providing a scientific basis for the site selection and business operation ‘or military applications’ here (after business operation), etc. of wind energy development, ‘aritime navigation against environmental construction,’ here and also contributing to the sustainable development and health of human beings.

Design of a Magnetic Wall-Climbing Car

2014 ◽  
Vol 526 ◽  
pp. 211-216
Author(s):  
Qiong Ying Lv ◽  
Yu Shi Mei ◽  
Xi Jia Tao
Keyword(s):  
Renewable Energy ◽  
Wind Energy ◽  
Wind Power ◽  
Large Scale ◽  
Magnetic Force ◽  
Mechanical Analysis ◽  
Heavy Duty ◽  
Magnetic Wall ◽  
Force Curves

As the trend of large-scale wind Power, People pay more attention to wind energy, which as a clean, renewable energy. Traditional unarmed climbing and crane lifting has been unable to meet the requirements of the equipment maintenance. Magnetic climb car can automatically crawl along the wall of the steel tower, the maintenance equipment and personnel can be sent to any height of the tower. The quality of the magnetic wall-climbing car is 550kg, which can carry 1.3 tons load. In this paper completed the magnetic wall-climbing car design and modeling, mechanical analysis in static and dynamic, obtained with the air gap and Magnetic Force curves. The application shows that the magnetic wall-climbing car meets the reliable adsorption, heavy-duty operation, simple operation etc..

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