Wind farm capital cost regression model for accurate life cycle cost estimation

David Mcmillan, Graham W. Ault

Research output: Contribution to conferencePaper

Abstract

Various studies over the last decade have attempted to forecast capital cost of wind power. The main assumption underpinning these models is that cost reductions will accrue indefinitely from technological learning over time. In this paper a regression model is proposed for wind farm capital cost which is based on commodities price and water depth rather than technological learning. With greater simplicity and certainty in the theoretical foundations of such a model, it is possible to gain realistic estimates of wind turbine capital cost. Such pragmatic and well-reasoned output is needed so that wind farm developers can understand their future risk exposure to price fluctuations in capital cost of plant.
LanguageEnglish
Number of pages5
Publication statusPublished - Jun 2012
EventPMAPS 2012 - Istanbul, Turkey
Duration: 10 Jun 201214 Jun 2012

Conference

ConferencePMAPS 2012
CountryTurkey
CityIstanbul
Period10/06/1214/06/12

Fingerprint

Farms
Life cycle
Costs
Cost reduction
Wind turbines
Wind power
Water

Keywords

  • wind farm
  • regression model
  • cost estimation
  • accurate life cycle
  • capital cost
  • CAPEX

Cite this

Mcmillan, D., & Ault, G. W. (2012). Wind farm capital cost regression model for accurate life cycle cost estimation. Paper presented at PMAPS 2012, Istanbul, Turkey.
Mcmillan, David ; Ault, Graham W. / Wind farm capital cost regression model for accurate life cycle cost estimation. Paper presented at PMAPS 2012, Istanbul, Turkey.5 p.
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Mcmillan, D & Ault, GW 2012, 'Wind farm capital cost regression model for accurate life cycle cost estimation' Paper presented at PMAPS 2012, Istanbul, Turkey, 10/06/12 - 14/06/12, .

Wind farm capital cost regression model for accurate life cycle cost estimation. / Mcmillan, David; Ault, Graham W.

2012. Paper presented at PMAPS 2012, Istanbul, Turkey.

Research output: Contribution to conferencePaper

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Mcmillan D, Ault GW. Wind farm capital cost regression model for accurate life cycle cost estimation. 2012. Paper presented at PMAPS 2012, Istanbul, Turkey.