IDEAS home Printed from https://ideas.repec.org/a/eee/renene/v103y2017icp156-170.html
   My bibliography  Save this article

Economic analysis of Lidar-based proactively controlled wind turbines

Author

Listed:
  • Mathur, Rachit R.
  • Rice, Jennifer A.
  • Swift, Andrew
  • Chapman, Jamie

Abstract

This paper analyzes the financial feasibility and the investment attractiveness of a wind farm that uses a Lidar unit for proactive turbine controls. A thorough technical analysis is performed for evaluating the effectiveness of the Lidar for proactive blade pitch control. It is observed that using a Lidar for individual blade pitch control results in a significant reduction of the blade root damage equivalent loads. Furthermore, a pro-forma cashflow based economic tool is developed for modeling, comparing, and analyzing wind energy projects. This tool utilizes capital budgeting tools such as net present value, internal rate of return, equivalent annual annuity and payback period for analyzing investment attractiveness. Moreover, this paper utilizes wind conditions, costs and expenses, financing schemes, incentives, and operational strategies for analyzing wind projects with or without Lidars. The component fatigue load reduction achieved using Lidar based control can either be used to increase the useful life of the farm or to up-rate (repower) the turbine for the same operational life. This work analyzes the financial impacts of each of the aforementioned scenarios for a range of wind conditions. Also, the financial impact of PTC availability on a Lidar-assisted wind project has been analyzed in this research.

Suggested Citation

  • Mathur, Rachit R. & Rice, Jennifer A. & Swift, Andrew & Chapman, Jamie, 2017. "Economic analysis of Lidar-based proactively controlled wind turbines," Renewable Energy, Elsevier, vol. 103(C), pages 156-170.
    • Handle: RePEc:eee:renene:v:103:y:2017:i:c:p:156-170
    DOI: 10.1016/j.renene.2016.10.069
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0960148116309466
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.renene.2016.10.069?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Wiser, Ryan & Bolinger, Mark & Barbose, Galen, 2007. "Using the Federal Production Tax Credit to Build a Durable Market for Wind Power in the United States," The Electricity Journal, Elsevier, vol. 20(9), pages 77-88, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sun, Chuanwang & Zhan, Yanhong & Du, Gang, 2020. "Can value-added tax incentives of new energy industry increase firm's profitability? Evidence from financial data of China's listed companies," Energy Economics, Elsevier, vol. 86(C).
    2. Bolinger, Mark & Wiser, Ryan, 2009. "Wind power price trends in the United States: Struggling to remain competitive in the face of strong growth," Energy Policy, Elsevier, vol. 37(3), pages 1061-1071, March.
    3. Gillenwater, Michael, 2008. "Redefining RECs--Part 1: Untangling attributes and offsets," Energy Policy, Elsevier, vol. 36(6), pages 2109-2119, June.
    4. Dakshina G. De Silva & Robert P. McComb & Anita R. Schiller, 2016. "What Blows in with the Wind?," Southern Economic Journal, John Wiley & Sons, vol. 82(3), pages 826-858, January.
    5. Dakshina G. De Silva & Robert P. McComb & Anita R. Schiller, 2013. "Do production subsidies have a wage incidence in wind power?," Applied Economics, Taylor & Francis Journals, vol. 45(28), pages 3963-3972, October.
    6. Mahmoud A. Eissa & Boping Tian, 2017. "Lobatto-Milstein Numerical Method in Application of Uncertainty Investment of Solar Power Projects," Energies, MDPI, vol. 10(1), pages 1-19, January.
    7. Sanya Carley & Adrienne Brown & Sara Lawrence, 2012. "Economic Development and Energy," Economic Development Quarterly, , vol. 26(2), pages 111-123, May.
    8. Sovacool, Benjamin K., 2010. "A comparative analysis of renewable electricity support mechanisms for Southeast Asia," Energy, Elsevier, vol. 35(4), pages 1779-1793.
    9. Martínez-Jaramillo, Juan Esteban & van Ackere, Ann & Larsen, Erik R., 2020. "Towards a solar-hydro based generation: The case of Switzerland," Energy Policy, Elsevier, vol. 138(C).
    10. Karen Maguire & Abdul Munasib, 2015. "The Disparate Influence of State Renewable Portfolio Standards (RPS) on U.S. Renewable Electricity Generation Capacity," Economics Working Paper Series 1502, Oklahoma State University, Department of Economics and Legal Studies in Business, revised Feb 2015.
    11. Yu, Min & Cruz, Jose M. & Li, Dong & Masoumi, Amir H., 2022. "A multiperiod competitive supply chain framework with environmental policies and investments in sustainable operations," European Journal of Operational Research, Elsevier, vol. 300(1), pages 112-123.
    12. Karen Maguire & Abdul Munasib, 2016. "The Disparate Influence of State Renewable Portfolio Standards on Renewable Electricity Generation Capacity," Land Economics, University of Wisconsin Press, vol. 92(3), pages 468-490.
    13. Sanya Carley & Elizabeth Baldwin & Lauren M. MacLean & Jennifer N. Brass, 2017. "Global Expansion of Renewable Energy Generation: An Analysis of Policy Instruments," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(2), pages 397-440, October.
    14. Osmani, Atif & Zhang, Jun & Gonela, Vinay & Awudu, Iddrisu, 2013. "Electricity generation from renewables in the United States: Resource potential, current usage, technical status, challenges, strategies, policies, and future directions," Renewable and Sustainable Energy Reviews, Elsevier, vol. 24(C), pages 454-472.
    15. Ana Espinola-Arredondo & Felix Munoz-Garcia & Dolores Garrido, 2023. "Measuring regulatory errors from environmental policy uncertainty," Journal of Regulatory Economics, Springer, vol. 64(1), pages 48-65, December.
    16. Karen Maguire & Abdul Munasib, 2018. "Electricity Price Increase in Texas: What is the Role of RPS?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(2), pages 293-316, February.
    17. Kunpeng Zhang & Yibei Guo & Xiaotian Hu, 2024. "Does Tax Sharing Matter for Export Quality Upgrading? Evidence from China," Sustainability, MDPI, vol. 16(11), pages 1-20, June.
    18. Tierney, Sean, 2011. "The rural utility response to Colorado’s electricity mandates," Energy Policy, Elsevier, vol. 39(11), pages 7217-7223.
    19. Paul G. Harris & Taedong Lee, 2017. "Compliance with climate change agreements: the constraints of consumption," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 17(6), pages 779-794, December.
    20. Erica L. Plambeck & Terry A. Taylor, 2013. "On the Value of Input Efficiency, Capacity Efficiency, and the Flexibility to Rebalance Them," Manufacturing & Service Operations Management, INFORMS, vol. 15(4), pages 630-639, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:renene:v:103:y:2017:i:c:p:156-170. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/renewable-energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.