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Article

Impact of Electrical Topology, Capacity Factor and Line Length on Economic Performance of Offshore Wind Investments

by 1,*,†, 2,*,† and 3,*,†
1
Department of Technology, University of Northern Iowa, Cedar Falls, IA 50614, USA
2
Marine and Renewable Energy Centre, University College Cork, P43 C573 Cork, Ireland
3
Department of Engineering Technology and Construction Management, University of North Carolina at Charlotte, Charlotte, NC 28223, USA
*
Authors to whom correspondence should be addressed.
These authors contributed equally to this work.
Energies 2019, 12(16), 3191; https://doi.org/10.3390/en12163191
Received: 10 July 2019 / Revised: 12 August 2019 / Accepted: 16 August 2019 / Published: 20 August 2019
(This article belongs to the Special Issue Renewable Energy in Marine Environment)
In this study, an economic performance assessment of offshore wind investments is investigated through electrical topology, capacity factor and line length. First, annual energy yield production and electrical system losses for AC and DC offshore wind configurations are estimated by using Weibull probability distributions of wind speed. A cost model for calculating core energy economic metrics for offshore wind environment is developed by using a discount cash flow analysis. A case study is then conducted for a projected offshore wind farm (OWF) rated 100 MW and 300 MW sizes situated in the Aegean sea. Finally, a sensitivity analysis is performed for AC and DC OWFs with three different capacity factors (e.g., 45%, 55% and 60%) and various transmission line lengths ranging from 20 km to 120 km. The OWF is found to be economically viable for both AC and DC configurations with the estimated levelized cost of electricity (LCOE) ranging from 88.34 $/MWh to 113.76 $/MWh and from 97.61 $/MWh to 126.60 $/MWh, respectively. LCOEs for both options slightly change even though the wind farm size was increased three-fold. The sensitivity analysis reveals that, for further offshore locations with higher capacity factors, the superiority of AC configuration over the DC option in terms of LCOE reduces while the advantage of DC configuration over the AC option in terms of electrical losses is significant. Losses in the AC and DC configurations range from 3.75% to 5.86% and 3.75% to 5.34%, respectively, while LCOEs vary between 59.90 $/MWh and 113.76 $/MWh for the AC configuration and 66.21 $/MWh and 124.15 $/MWh for the DC configuration. Capacity factor was found to be more sensitive in LCOE estimation compared to transmission line length while line length is more sensitive in losses estimation compared to capacity factor. View Full-Text
Keywords: cost-benefit analysis; DC collection; energy economics; HVDC; HVAC; levelized cost of electricity (LCOE); offshore wind cost-benefit analysis; DC collection; energy economics; HVDC; HVAC; levelized cost of electricity (LCOE); offshore wind
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MDPI and ACS Style

Kucuksari, S.; Erdogan, N.; Cali, U. Impact of Electrical Topology, Capacity Factor and Line Length on Economic Performance of Offshore Wind Investments. Energies 2019, 12, 3191. https://doi.org/10.3390/en12163191

AMA Style

Kucuksari S, Erdogan N, Cali U. Impact of Electrical Topology, Capacity Factor and Line Length on Economic Performance of Offshore Wind Investments. Energies. 2019; 12(16):3191. https://doi.org/10.3390/en12163191

Chicago/Turabian Style

Kucuksari, Sadik, Nuh Erdogan, and Umit Cali. 2019. "Impact of Electrical Topology, Capacity Factor and Line Length on Economic Performance of Offshore Wind Investments" Energies 12, no. 16: 3191. https://doi.org/10.3390/en12163191

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