Economics at your fingertips  

Assessment of wind power predictability as a decision factor in the investment phase of wind farms

R. Girard, K. Laquaine and G. Kariniotakis

Applied Energy, 2013, vol. 101, issue C, 609-617

Abstract: The ability to predict wind power production over the next few hours to days is prerequisites for the secure and economic operation of power systems with high wind power penetration. From the point of view of a producer participating in the day-ahead electricity market, lack of predictability at a wind power production site results in imbalance costs. This paper aims at quantifying the impact on market revenue of, respectively, the predictability and the capacity factor of a wind farm or a cluster of wind farms. This is done through a real-life case study in West Denmark, including wind farm production data and market data. Finally, we make a prospective analysis under the assumption that the imbalance price settlement mechanism will remain the same.

Keywords: Wind power resource assessment; Wind power predictability; Market design; Planning policy; Sensitivity analysis; Investment problem (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (10) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
http://www.elsevier. ... 405891/bibliographic

Access Statistics for this article

Applied Energy is currently edited by J. Yan

More articles in Applied Energy from Elsevier
Series data maintained by Dana Niculescu ().

Page updated 2017-09-29
Handle: RePEc:eee:appene:v:101:y:2013:i:c:p:609-617