2020 Cost of Wind Energy Review

Stehly, Tyler; Duffy, Patrick

doi:10.2172/1838135

Cited by 59 publications

(50 citation statements)

References 18 publications

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“…For land-based wind, we use a nominal weighted-average cost of capital (WACC) of 5.23% and resulting nominal fixed charge rate (FCR) of 7.59%, and for offshore wind we use values of 5.29% and 7.64%, respectively. These values are calculated in line with Stehly and Duffy (2022), and have been informed by literature (Feldman, Bolinger, and Schwabe 2020; National Renewable Energy Laboratory 2022a; Guillet 2018) and updated based on conversations with industry partners. Table 13 details the financing assumptions used in the derivation of FCR, and a more detailed description of each term can be found in Beiter et al (2016).…”

Section: Wind Energy Project Financing and Insurancementioning

confidence: 99%

Wind Energy Costs in Puerto Rico Through 2035

Duffy¹,

Gabriel²,

Williams³

et al. 2022

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Section: Wind Energy Project Financing and Insurancementioning

confidence: 99%

Wind Energy Costs in Puerto Rico Through 2035

Duffy¹,

Gabriel²,

Williams³

et al. 2022

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“…Operations and maintenance (O&M) represents around one-third of the total wind power plant life cycle cost (Stehly and Duffy 2022) with annual cost ranges of $15-$27/kilowatt (kW)/year for land-based wind energy (Liu and Garcia da Fonseca 2021) and $40-$60/kW/year for offshore wind energy (Wood Mackenzie 2021). Innovations such as remote inspection and repair, remote and automated maintenance, condition-based maintenance, improved methods for personnel transfer, and improvements in weather forecasting (Valpy et al 2017) are expected to reach the market over the next decade and decrease O&M costs.…”

Section: Introductionmentioning

confidence: 99%

Windfarm Operations and Maintenance cost-Benefit Analysis Tool (WOMBAT)

Hammond¹,

Cooperman²

2022

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This report describes the Windfarm Operations and Maintenance cost-Benefit Analysis Tool (WOMBAT), which models the operations and maintenance (O&M) phase of a wind power plant. The model calculates both direct and indirect O&M costs, along with power production, safety, and efficiency of operations at a distributed, land-based, or offshore wind power plant. Because O&M costs comprise roughly one-third of the total life cycle costs for a wind power plant, it is important to understand how technological and process-based innovations might help drive down those costs.WOMBAT is a medium-fidelity, scenario-based, trade-off analysis tool with a modular code base that allows for extensive customizations to account for technological innovations, maintenance strategy or methodological improvements, and site conditions. The most important benefit to the model being highly modular and flexibly composable is that there is no difference in how distributed wind, offshore wind, or land-based wind energy technologies are modeled. The flexibility of the software enables users to model wind power plants with any number of wind turbines. Similarly, any number of maintenance tasks and potential failures can be modeled on each turbine. Additionally, the flexible selection of service equipment enables users to model maintenance of land-based or offshore wind turbines, using appropriate constraints and capabilities for each type of service equipment. This report details the functionality, implementation, conceptual background, and performance of WOMBAT. It describes the concepts underlying WOMBAT for readers who are interested in using the software and provides more details of the software implementation for users interested in customizing WOMBAT for their own analyses. First, the report presents the motivation and requirements for a free and open-source O&M software, then moves into the underlying data models that enable the core functionality of the software. It then describes how the simulation itself works, presents some of the end results that WOMBAT can generate, and summarizes our model validation exercises.WOMBAT is actively being developed with new functionality and methodologies being implemented to continuously serve the needs of users. Therefore, this report is based off the release of Version 0.5.1, which is available at https://www.github.com/WISDEM/WOMBAT/. In addition to this report, up-to-date documentation, use cases, and examples can be found at https://wisdem.github.io/WOMBAT.

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“…turbine size) and site conditions (e.g. water depth) change [3]. More recently, models that use both empirical data as well as underlying design studies have been developed to support analysis with next generation technologies and across a broader range of site conditions [4].…”

Section: Introductionmentioning

confidence: 99%

A surrogate model of offshore wind farm support structures for wind farm design and financial valuation

McWilliam

Friis-Møller

Pollini

et al. 2022

J. Phys.: Conf. Ser.

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In the preliminary phases of offshore wind farm development, very little information on project design are available for supporting financial valuation and site design. In this work, we develop a surrogate model for offshore wind support structure mass for input to techno-economic analysis that is based on a small set of input parameters. Using reference turbines and a broad set of met-ocean conditions, a large design spaced is developed from which a sampling of conditions is used to estimate the dimensions and mass of monopile support structures. The results are parameterized using statistical methods to create a functional model of costs relative to high-level site and technical inputs. To preserve the transparency of the model input-output relationships, a statistical surrogate model is used based on quadratic functions of the inputs. Overall, the rated power and rotor diameter of the turbine has the greatest influence on the mass, followed by the specific power. The water depth was the next most important environmental parameter, followed by wave period. The full surrogate model captures 98.5% of the variance of the monopile mass as a function of the above inputs. We present results related to monopile foundations, but the methodology is flexible and can be applied also in the case of other types of support structures.

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2020 Cost of Wind Energy Review

Cited by 59 publications

References 18 publications

Wind Energy Costs in Puerto Rico Through 2035

Wind Energy Costs in Puerto Rico Through 2035

Windfarm Operations and Maintenance cost-Benefit Analysis Tool (WOMBAT)

A surrogate model of offshore wind farm support structures for wind farm design and financial valuation

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