Real Options for a Wind Farm in Wapakoneta, Ohio: Incorporating Uncertainty into Economic Feasibility Studies for Community Wind

Prospects for Wind Farm Installation in Wapakoneta, Ohio: An Initial Study on Economic Feasibility

Real Options for a Wind Farm in Wapakoneta, Ohio:

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:...

Optimal Scheduling of Coordinated Wind-Pumped Storage-Thermal System Considering Environmental Emission Based on GA Based Heuristic Optimization Algorithm

The integration of renewable wind and pumped storage with thermal power generation allows for dispatch of wind energy by generation companies (GENCOs) interested in participation in energy and ancillary services markets. However, to realize the maximum economic profit, optimal coordination and accounting for reduction in cost for environmental emission is necessary. The goal of this study is to...

Feasibility of building wind power plants in coastal areas of the country using GIS (case study: Khuzestan province)

In Iran, due to the high rate of economic growth and development activities, the annual demand for various energies, including electrical energy, has increased, as a result of which the construction of new power plants has become an undeniable necessity. Considering the evolution of energy in the current century and the need for renewable energies, the use of wind energy and the establishment o...

Incorporating Wind Power Generation And Demand Response into Security-Constrained Unit Commitment

Wind generation with an uncertain nature poses many challenges in grid integration and secure operation of power system. One of these operation problems is the unit commitment. Demand Response (DR) can be defined as the changes in electric usage by end-use customers from their normal consumption patterns in response to the changes in the price of electricity over time. Further, DR can be also d...