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Wind Energy: Technology, Markets, and Economics

Wind Energy: Technology, Markets, and Economics. ECO 680 Dr. Gomis Porqueras. Sizes and Applications. Small ( 10 kW) Homes Farms Remote Applications (e.g. water pumping, telecom sites, icemaking). Intermediate (1 0-250 kW) Village Power Hybrid Systems Distributed Power.

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Wind Energy: Technology, Markets, and Economics

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  1. Wind Energy: Technology, Markets, and Economics ECO 680 Dr. Gomis Porqueras

  2. Sizes and Applications • Small (10 kW) • Homes • Farms • Remote Applications • (e.g. water pumping, telecom sites, icemaking) • Intermediate • (10-250 kW) • Village Power • Hybrid Systems • Distributed Power • Large (250 kW - 2+MW) • Central Station Wind Farms • Distributed Power

  3. Growth of Wind Energy Capacity Worldwide Actual Projected Jan 2002 Cumulative MW Rest of World = 2,365 North America = 4,543 Europe = 16,362 Rest of World Rest of World North America North America Europe Europe MW Installed Year Sources: BTM Consult Aps, March 2001 Windpower Monthly, January 2002

  4. Maturing Wind Technology • Technology has matured over 25 years of learning experiences • Availabilities reported of 98-99% • Certification to international standards helps to avoid “show stoppers” • Performance and cost have dramatically improved • New hardware is being developed on multiple fronts: • higher productivity and lower costs • larger sized for both land and off-shore installations • tailored designs for high capacity factor, low wind speed and extreme weather conditions

  5. Drivers for Wind Power • Declining Wind Costs • Fuel Price Uncertainty • Federal and State Policies • Economic Development • Green Power • Energy Security

  6. Wind Economics - Determining Factors • Wind Resource • Financing and Ownership Structure • Taxes and Policy Incentives • Plant Size: equipment, installation and O&M economies of scale • Turbine size, model, and tower height • Green field or site expansion

  7. Cost of Energy Trend 1979: 40 cents/kWh 2000: 4 - 6 cents/kWh • Increased Turbine Size • R&D Advances • Manufacturing Improvements NSP 107 MW Lake Benton wind farm 4 cents/kWh (unsubsidized) 2004: 3 – 4.5 cents/kWh

  8. Wind Cost of Energy 12 10 8 Low wind speed sites COE (¢/kWh [constant 2000 $]) 6 Bulk Power Competitive Price Band High windspeed sites 4 2 0 1990 2010 2020 1995 2005 2015 2000

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