Parametric CAPEX, OPEX, and LCOE expressions for offshore wind farms based on global deployment parameters

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dc.contributor.authorIoannou, Anastasia
dc.contributor.authorAngus, Andrew
dc.contributor.authorBrennan, Feargal
dc.date.accessioned2018-06-19T10:37:36Z
dc.date.available2018-06-19T10:37:36Z
dc.date.issued2018-05-04
dc.description.abstractInstalled wind energy capacity has been rapidly increasing over the last decade, with deployments in deeper waters and further offshore, with higher turbine ratings within new farms. Understanding the impact of different deployment factors on the overall cost of wind farms is pertinent toward benchmarking the potential of different investment decision alternatives. In this article, a set of parametric expressions for capital expenditure, operational expenditure, and levelized cost of energy are developed as a function of wind turbine capacity (), water depth (WD), distance from port (D), and wind farm capacity (). These expressions have been developed through a series of simulations based on a fully integrated, tested cost model which are then generalized through the application of appropriate nonlinear regression equations for a typical offshore wind farm investment and taking into account most current published cost figures. The effectiveness of the models are countersigned through a series of cases, estimating the predicted values with a maximum error of 3.3%. These expressions will be particularly useful for the preliminary assessment of available deployment sites, offering cost estimates based on global decision variables.en_UK
dc.identifier.citationAnastasia Ioannou, Andrew Angus and Feargal Brennan. Parametric CAPEX, OPEX, and LCOE expressions for offshore wind farms based on global deployment parameters. Energy Sources, Part B: Economics, Planning and Policy, 2018, Volume 13, Issue 5, pp281-290en_UK
dc.identifier.issn1556-7249
dc.identifier.urihttps://doi.org/10.1080/15567249.2018.1461150
dc.identifier.urihttp://dspace.lib.cranfield.ac.uk/handle/1826/13244
dc.language.isoenen_UK
dc.publisherTaylor and Francisen_UK
dc.rightsAttribution 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/*
dc.subjectCAPEXen_UK
dc.subjectLCOEen_UK
dc.subjectnonlinear regressionen_UK
dc.subjectoffshore wind farmen_UK
dc.subjectOPEXen_UK
dc.subjectparametric expressionsen_UK
dc.titleParametric CAPEX, OPEX, and LCOE expressions for offshore wind farms based on global deployment parametersen_UK
dc.typeArticleen_UK

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