| Title |
Economic Analysis of Large-scale Floating Offshore Wind Farm Considering Transmission Line Distance to Shore |
| Authors |
Won-Sik Moon ; Mi-Young Kim |
| DOI |
http://doi.org/10.5207/JIEIE.2021.35.12.055 |
| Keywords |
Cost model; Economic analysis; Floating offshore wind power; Large-scale; T/L line to shore |
| Abstract |
In this study, economic evaluation of large-scale floating offshore wind farms(OWF) is conducted. The floating wind turbine is not limited by water depth, so it can be installed in the sea far from the coast, and also expected to increase the productivity of electricity energy due to higher mean wind speed. As the cost of the project increases as the distance to shore increases and the capacity of the power generation complex increases. However, as the distance to shore increases and the capacity of the offshore wind farm increases, the project cost will be increased. Therefore this research is needed to confirm whether it is economically sustainable. The case models to be evaluated are a 400㎿ and 480㎿ wind farm. The cost model is composed of the installation and operating cost of the floating offshore wind farm. In particular, the electricity production and income are calculated by applying the wind speed model according to the transmission line distance and the electricity energy price according to the renewable energy certificate(REC) weight. Economic analysis is evaluated on annual energy production(AEP), net present value(NPV), cost-benefit ratio(B/C ratio), and levelized cost of energy(LCOE). |