Optimal Configuration and Diversification of Wind Turbines: A Hybrid Approach to Improve the Penetration of Wind Power

Leo Klie () and Reinhard Madlener
Additional contact information
Leo Klie: RWTH Aachen University, Postal: RWTH Aachen University, Templergraben 55, 52056 Aachen, Germany, https://www.rwth-aachen.de

No 1/2020, FCN Working Papers from E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)

Abstract: Literature indicates a decline in the market value of wind power with increasing market penetration. Two promising measures to mitigate this market value drop are system-friendly turbines and geographical diversification. This study analyzes the combined potential of a hybrid approach used to simultaneously improve market values, reduce system costs and the overall subsidy needs in Germany. Therefore, promising diversification regions and site optimal turbine configurations are identified. The corresponding market values and levelized cost of electricity are forecasted for penetration rates of up to 65% (2030). The analysis shows that the market value drop in diversified regions using system-friendly turbines is less severe. Furthermore, the hybrid approach results in system cost and subsidy savings. Additional analyses show that the dominant share of the hybrid approach benefits can be attributed to the use of system-friendly turbines and that diversification does not seem to be a promising alternative for Germany.

Keywords: Market value; Penetration of renewables; Cannibalization; System-friendly turbines; Geographic diversification (search for similar items in EconPapers)
JEL-codes: O25 P48 Q42 Q48 R32 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2020-01
New Economics Papers: this item is included in nep-ene
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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Related works:
Journal Article: Optimal configuration and diversification of wind turbines: A hybrid approach to improve the penetration of wind power (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:fcnwpa:2020_001

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