Immature Offshore Wind Technology: UK Life Cycle Capacity Factor Analysis
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Wiley Open Access
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| Format: | Artículo Open Access |
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Wiley
2024
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| _version_ | 1867009043489357824 |
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| author | Sindre Lorentzen Petter Osmundsen Li Lu |
| author_facet | Sindre Lorentzen Petter Osmundsen Li Lu Sindre Lorentzen Petter Osmundsen Li Lu |
| collection | Wiley Open Access |
| contents | Immature Offshore Wind Technology: UK Life Cycle Capacity Factor Analysis Sindre Lorentzen Petter Osmundsen Li Lu Wind Energy ABSTRACTBy multivariate econometric analysis of UK offshore wind farms, we demonstrate a life cycle effect of the capacity factor of offshore wind. From the bathtub curve findings in reliability engineering, we would expect a long, flat segment of stable operation in the middle of the life cycle production schedule. Our general findings deviate from the standard curve as it does not have a long segment where production is stable. Production starts falling too early. Lack of stable operation period is harmful to wind farm economics. It indicates immature technology and a potential for improvement. We examine the effect life cycle production schedules have on project economics and compare with a common assumption of a flat production schedule. We find that project profitability (net present value) is very sensitive to the life cycle profile of production. 10.1002/we.2939 http://creativecommons.org/licenses/by/4.0/ |
| doi_str_mv | 10.1002/we.2939 |
| format | Artículo Open Access |
| id | wiley_oa_10_1002_we_2939 |
| institution | Wiley Open Access |
| license_str_mv | http://creativecommons.org/licenses/by/4.0/ |
| publishDate | 2024 |
| publisher | Wiley |
| record_format | wiley_oa |
| spellingShingle | Immature Offshore Wind Technology: UK Life Cycle Capacity Factor Analysis Sindre Lorentzen Petter Osmundsen Li Lu Wind Energy Immature Offshore Wind Technology: UK Life Cycle Capacity Factor Analysis Sindre Lorentzen Petter Osmundsen Li Lu Wind Energy ABSTRACTBy multivariate econometric analysis of UK offshore wind farms, we demonstrate a life cycle effect of the capacity factor of offshore wind. From the bathtub curve findings in reliability engineering, we would expect a long, flat segment of stable operation in the middle of the life cycle production schedule. Our general findings deviate from the standard curve as it does not have a long segment where production is stable. Production starts falling too early. Lack of stable operation period is harmful to wind farm economics. It indicates immature technology and a potential for improvement. We examine the effect life cycle production schedules have on project economics and compare with a common assumption of a flat production schedule. We find that project profitability (net present value) is very sensitive to the life cycle profile of production. 10.1002/we.2939 http://creativecommons.org/licenses/by/4.0/ |
| title | Immature Offshore Wind Technology: UK Life Cycle Capacity Factor Analysis |
| topic | Wind Energy |
| url | https://onlinelibrary.wiley.com/doi/10.1002/we.2939 |