A Techno-Economic Analysis of Power Generation in Wind Power Plants Through Deep Learning: A Case Study of Türkiye

Ziya Demirkol, Faruk Dayi (), Aylin Erdoğdu, Ahmet Yanik and Ayhan Benek
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Ziya Demirkol: Department of Electrical, Vocational of School, Kastamonu University, Kastamonu 37160, Türkiye
Faruk Dayi: Department of Business Administration, Faculty of Economics and Administrative Sciences, Kastamonu University, Kastamonu 37160, Türkiye
Aylin Erdoğdu: Department of Finance and Banking, Faculty of Economics and Administrative Sciences, Istanbul Arel University, Istanbul 34295, Türkiye
Ahmet Yanik: Department of Business Administration, Faculty of Economics and Administrative Sciences, Recep Tayyip Erdoğan University, Rize 53100, Türkiye
Ayhan Benek: Department of Business Administration, Faculty of Economics and Administrative Sciences, Kastamonu University, Kastamonu 37160, Türkiye

Energies, 2025, vol. 18, issue 10, 1-40

Abstract: In recent years, the utilization of renewable energy sources has significantly increased due to their environmentally friendly nature and sustainability. Among these sources, wind energy plays a critical role, and accurately forecasting wind power with minimal error is essential for optimizing the efficiency and profitability of wind power plants. This study analyzes hourly wind speed data from 23 meteorological stations located in Türkiye’s Western Black Sea Region for the years 2020–2024, using the Weibull distribution to estimate annual energy production. Additionally, the same data were forecasted using the Long Short-Term Memory (LSTM) model. The predicted data were also assessed through Weibull distribution analysis to evaluate the energy potential of each station. A comparative analysis was then conducted between the Weibull distribution results of the measured and forecast datasets. Based on the annual energy production estimates derived from both datasets, the revenues, costs, and profits of 10 MW wind farms at each location were examined. The findings indicate that the highest revenues and unit electricity profits were observed at the Zonguldak South, Sinop İnceburun, and Bartın South stations. According to the LSTM-based forecasts for 2025, investment in wind energy projects is considered feasible at the Sinop İnceburun, Bartın South, Zonguldak South, İnebolu, Cide North, Gebze Köşkburnu, and Amasra stations.

Keywords: wind energy; machine learning; LSTM; onshore wind power plants; cost–volume–profit analysis; Türkiye (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2025
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