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Levelized Cost of Energy Analysis of a Wind Power Generation System at Búrfell in Iceland.
- Source :
-
Energies (19961073) . Sep2015, Vol. 8 Issue 9, p9464-9485. 22p. 1 Color Photograph, 10 Charts, 8 Graphs, 1 Map. - Publication Year :
- 2015
-
Abstract
- Wind energy harnessing is a new energy production alternative in Iceland. Current installed wind power in Iceland sums to 1.8 MW, which in contrast is 0.1% of the country's total electricity production. This article is dedicated to the exploration of the potential cost of wind energy production at Búrfell in the south of Iceland. A levelized cost of energy (LCOE) approach was applied to the estimation of the potential cost. Weibull simulation is used to simulate wind data for calculations. A confirmation of the power law is done by comparing real data to calculated values. A modified Weibull simulation is verified by comparing results with actual on-site test wind turbines. A wind farm of 99MWis suggested for the site. Key results were the capacity factor (CF) at Búrfell being 38.15% on average and that the LCOE for wind energy was estimated as 0.087-0.088 USD/kWh (assuming 10% weighted average cost of capital (WACC)), which classifies Búrfell among the lowest LCOE sites for wind energy in Europe. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 19961073
- Volume :
- 8
- Issue :
- 9
- Database :
- Academic Search Index
- Journal :
- Energies (19961073)
- Publication Type :
- Academic Journal
- Accession number :
- 110029003
- Full Text :
- https://doi.org/10.3390/en8099464