### Abstract

Language | English |
---|---|

Number of pages | 5 |

Publication status | Published - Jun 2012 |

Event | PMAPS 2012 - Istanbul, Turkey Duration: 10 Jun 2012 → 14 Jun 2012 |

### Conference

Conference | PMAPS 2012 |
---|---|

Country | Turkey |

City | Istanbul |

Period | 10/06/12 → 14/06/12 |

### Fingerprint

### Keywords

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

### Cite this

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

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

Research output: Contribution to conference › Paper

TY - CONF

T1 - Wind farm capital cost regression model for accurate life cycle cost estimation

AU - Mcmillan, David

AU - Ault, Graham W.

PY - 2012/6

Y1 - 2012/6

N2 - 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.

AB - 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.

KW - wind farm

KW - regression model

KW - cost estimation

KW - accurate life cycle

KW - capital cost

KW - CAPEX

UR - http://www.pmaps2012.itu.edu.tr/

M3 - Paper

ER -