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Chapter 3

Chapter 3

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Published by ebertao
wind energy report - chapter 3
wind energy report - chapter 3

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Categories:Types, Research, Science
Published by: ebertao on Mar 19, 2010
Copyright:Attribution Non-commercial

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12/31/2013

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 WIND ENERGY - THE FACTS
PART III
 THE ECONOMICSOF WIND POWER
 
Acknowledgements
Part III was compiled by Poul Erik Morthorst of Risø´ DTU National Laboratory, Technical University of Denmark; Hans Auer of the Energy Economics Group,University of Vienna; Andrew Garrad of Garrad Hassanand Partners; Isabel Blanco of UAH, Spain.We would like to thank all the peer reviewers fortheir valuable advice and for the tremendous effortthat they put into the revision of Part III.Part III was carefully reviewed by the followingexperts:Rune Moesgaard Danish Wind Industry AssociationHugo Chandler IEAPaulis Barons Latvian Wind Energy AssociationMr. G. Bakema Essent Netherlands
 
Wind power is developing rapidly at both Europeanand global levels. Over the past 15 years, the globalinstalled capacity of wind power increased from around2.5 GW in 1992 to just over 94 GW at the end of 2007,an average annual growth of more than 25 per cent.Owing to ongoing improvements in turbine efficiency andhigher fuel prices, wind power is becoming economi-cally competitive with conventional power production,and at sites with high wind speeds on land, wind poweris considered to be fully commercial.Part III of this volume focuses on the economics of wind power. The investment and cost structures of land-based and offshore turbines are discussed. Thecost of electricity produced is also addressed, whichtakes into account the lifetime of turbines and O&Mcosts, and the past and future development of thecosts of wind-generated power is analysed. In subse-quent chapters, the importance of finance, supportschemes and employment issues are discussed. Finally,the cost of wind-generated electricity is compared tothe cost of conventional fossil fuel-fired power plants.Wind power is used in a number of different appli-cations, including grid-connected and stand-aloneelectricity production and water pumping. Part IIIanalyses the economics of wind energy, primarily inrelation to grid-connected turbines, which accountfor the vast bulk of the market value of installedturbines.
PART III INTRODUCTION

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