Real Options for a Wind Farm in Wapakoneta, Ohio:
نویسنده
چکیده
This paper uses real options analysis, specifically a hybrid Monte Carlo simulation – decision tree analysis as well as a binomial tree analysis, to look at optimal decisionmaking for investment by a small community wind farm under uncertainty. In particular, the uncertainty due to forecasting of electricity prices and the potential for carbon pricing are considered. Two options are considered: a “call option” whereby a farm may be scaled up in terms of power generation capacity and a “put option” for shutting down operations are treated. It is found in general that options enhance the overall economic value for wind farm projects and such analysis can be easily implemented using common spreadsheet tools. The differences between two analytical tools are compared and it is found that they differ with respect to their suitability for different scenarios of analysis.
منابع مشابه
Real Options for a Wind Farm in Wapakoneta, Ohio: Incorporating Uncertainty into Economic Feasibility Studies for Community Wind
This paper uses real options analysis, specifically a hybrid Monte Carlo simulation – decision tree analysis as well as a binomial tree analysis, to look at optimal decisionmaking for investment by a small community wind farm under uncertainty. In particular, the uncertainty due to forecasting of electricity prices and the potential for carbon pricing are considered. Two options are considered:...
متن کاملProspects for Wind Farm Installation in Wapakoneta, Ohio: An Initial Study on Economic Feasibility
متن کامل
Development of a new low-cost procedure for wind farm maintenance with a view to decrease soil pollution
The purpose of this article is to present the development of a wind farm, with a condition monitoring system (CMS) based on control charts as the algorithm, centred on a new index, to prevent soil pollution by oil spills in wind farms. To this end, temperature sensors can be considered as one of the more significant sensors to be employed in this study, because the information obtained with reg...
متن کاملDevelopment of a new low-cost procedure for wind farm maintenance with a view to decrease soil pollution
The purpose of this article is to present the development of a wind farm, with a condition monitoring system (CMS) based on control charts as the algorithm, centred on a new index, to prevent soil pollution by oil spills in wind farms. To this end, temperature sensors can be considered as one of the more significant sensors to be employed in this study, because the information obtained with reg...
متن کاملA semi-analytical model for velocity profile at wind turbine wake using blade element momentum
The shape of wake behind a wind turbine is normally assumed to have a hat shape for the models used in wind farm layout optimization purposes; however, it is know from experimental tests and numerical simulations that this is not a real assumption. In reality, the results of actual measurements and detailed numerical simulation show that the velocity in wake region has a S-shape profile. Th...
متن کامل