1 / 16

Long Island’s Offshore Wind Farm

This project evaluation overview explores the implementation of a 100 MW offshore wind farm off Long Island's coast. The financial analysis reveals a challenging NPV, while risks such as technological uncertainties and natural disasters are considered. Despite costs and potential environmental impacts, the project promises benefits like energy independence, reduced emissions, and minimal opposition due to government support. Wind power emerges as a promising alternative to fossil fuels, aligning with New York State's renewable energy goals.

dollie
Download Presentation

Long Island’s Offshore Wind Farm

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation

  2. Overview • Energy generation in the US • Offshore wind farms • Proposal for Long Island • Financial Analysis • Risks and Uncertainties • Non-financial costs and benefits • Future

  3. US Net Energy Production by Source in 2001

  4. Problems with Current Energy • Fossil fuels • Environment • Foreign dependence • Nuclear • Public support • Need other sources Renewables

  5. New York State • Goal: “25% of electricity generated by non-polluting resources by 2013” • “We want to get there as quickly as possible” • “The Long Island Power Authority wants to lead the state in renewable technologies” Long Island

  6. Offshore Wind Farm • 100 MW capacity, 25-50 turbines • More consistent wind speeds • Does not use valuable land

  7. Project Schedule

  8. Financial Analysis • Cost of turbines $85 million • Installation cost $50 million • Annual O&M $4 million • Annual Revenue $22.5 million • Operational for 20 years • NPV of Project -$11 million

  9. Risks and Uncertainties • Reliance on technological advances • Unproven technology • State and federal permitting process • Financial uncertainties • Construction difficulties • Natural disasters

  10. Tropical Storm and Hurricane Tracks (1851 – 2000)

  11. Costs and Benefits • Visual impact • Off the coast of popular beaches (state parks) • Danger to wildlife • Birds • Fisheries • Endangered species • Hurts local fishing • Energy source only feasible due to government assistance • Freedom of energy supply • Replaces dependence on foreign oil • Environmentally sound • Prevents emissions of greenhouse gases and other pollutants • Reduces medical costs

  12. Future • Looks very bright • Lack of opposition so far • Government commitment • Wind power offers a valuable alternative to fossil fuels • Cuts down air pollution and greenhouse gases • Limited environmental and economic consequences

More Related