Evaluation of Wind Resources and the Effect of Market Price Components on Wind-Farm Income: A Case Study of Ørland in Norway

Ali Marjan and Mahmood Shafiee
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Ali Marjan: Department of Energy and Power, Cranfield University, Bedfordshire MK43 0AL, UK
Mahmood Shafiee: Department of Energy and Power, Cranfield University, Bedfordshire MK43 0AL, UK

Energies, 2018, vol. 11, issue 11, 1-21

Abstract: This paper aims to present a detailed analysis of the performance of a wind-farm using the wind turbine power measurement standard IEC61400-12-1 (2017). Ten minutes averaged wind data are obtained from LIDAR over the period of twelve months and it is compared with the 38 years’ data from weather station with the objective of determining the wind resources at the wind-farm. The performance of one of the wind turbines located in the wind-farm is assessed by comparing the wind power potential of the wind turbine with its actual power production. Our analysis shows that the wind farm under study is rated as ‘good’ in terms of wind power production and has wind power density of 479 W/m 2 . The annual wind-farm’s income is estimated based on the real-data collected from the wind turbines. The effect of price of electricity and the spot prices of Norwegian-Swedish green certificate on the income will be illustrated by means of a Monte-Carlo Simulation (MCS) approach. Our study provides a different perspective of wind resource evaluation by analyzing LIDAR measurements using Windographer and combines it with the lesser explored effects of price components on the income using statistical tools.

Keywords: wind turbine; LIDAR; wind farm; wind resource analysis; price of electricity; green certificate; performance (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: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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