Wind energy modeling for residential-scale wind power and sensitivity of economic valuation to errors in wind speed estimates

Teuku Indra, Dominique Bain, Tom L Acker

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

A residential-scale wind turbine has the potential to provide annual savings in electricity cost for a homeowner. The estimated annual saving is calculated based upon the estimated annual energy output (AEO) of a turbine. The annual energy saving is a key input in determining the net present value (NPV) and simple payback period (SPP), which are major factors in the economic evaluation. Since the power output of a turbine, and thus the AEO, are dependent upon the cube of the velocity, an accurate estimate of wind speed is crucial for turbine's economic valuation. The first part of this study used wind speed data from meteorological towers and flow modeling software to predict the output of a residential-scale turbine and compare the predictions to the actual energy production. Then, it is demonstrated that the uncertainty in estimated wind speed leads to the uncertainty in economic valuation of a residential-scale wind turbine.

Original languageEnglish (US)
Title of host publication43rd ASES National Solar Conference 2014, SOLAR 2014, Including the 39th National Passive Solar Conference and the 2nd Meeting of Young and Emerging Professionals in Renewable Energy
PublisherAmerican Solar Energy Society
Pages621-625
Number of pages5
Volume1
ISBN (Print)9781510801790
StatePublished - 2014
Event43rd ASES National Solar Conference 2014, SOLAR 2014, Including the 39th National Passive Solar Conference and the 2nd Meeting of Young and Emerging Professionals in Renewable Energy - San Francisco, United States
Duration: Jul 6 2014Jul 10 2014

Other

Other43rd ASES National Solar Conference 2014, SOLAR 2014, Including the 39th National Passive Solar Conference and the 2nd Meeting of Young and Emerging Professionals in Renewable Energy
CountryUnited States
CitySan Francisco
Period7/6/147/10/14

Fingerprint

Wind power
Turbines
Economics
Wind turbines
Towers
Energy conservation
Electricity
Costs
Uncertainty

ASJC Scopus subject areas

  • Renewable Energy, Sustainability and the Environment

Cite this

Indra, T., Bain, D., & Acker, T. L. (2014). Wind energy modeling for residential-scale wind power and sensitivity of economic valuation to errors in wind speed estimates. In 43rd ASES National Solar Conference 2014, SOLAR 2014, Including the 39th National Passive Solar Conference and the 2nd Meeting of Young and Emerging Professionals in Renewable Energy (Vol. 1, pp. 621-625). American Solar Energy Society.

Wind energy modeling for residential-scale wind power and sensitivity of economic valuation to errors in wind speed estimates. / Indra, Teuku; Bain, Dominique; Acker, Tom L.

43rd ASES National Solar Conference 2014, SOLAR 2014, Including the 39th National Passive Solar Conference and the 2nd Meeting of Young and Emerging Professionals in Renewable Energy. Vol. 1 American Solar Energy Society, 2014. p. 621-625.

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Indra, T, Bain, D & Acker, TL 2014, Wind energy modeling for residential-scale wind power and sensitivity of economic valuation to errors in wind speed estimates. in 43rd ASES National Solar Conference 2014, SOLAR 2014, Including the 39th National Passive Solar Conference and the 2nd Meeting of Young and Emerging Professionals in Renewable Energy. vol. 1, American Solar Energy Society, pp. 621-625, 43rd ASES National Solar Conference 2014, SOLAR 2014, Including the 39th National Passive Solar Conference and the 2nd Meeting of Young and Emerging Professionals in Renewable Energy, San Francisco, United States, 7/6/14.
Indra T, Bain D, Acker TL. Wind energy modeling for residential-scale wind power and sensitivity of economic valuation to errors in wind speed estimates. In 43rd ASES National Solar Conference 2014, SOLAR 2014, Including the 39th National Passive Solar Conference and the 2nd Meeting of Young and Emerging Professionals in Renewable Energy. Vol. 1. American Solar Energy Society. 2014. p. 621-625
Indra, Teuku ; Bain, Dominique ; Acker, Tom L. / Wind energy modeling for residential-scale wind power and sensitivity of economic valuation to errors in wind speed estimates. 43rd ASES National Solar Conference 2014, SOLAR 2014, Including the 39th National Passive Solar Conference and the 2nd Meeting of Young and Emerging Professionals in Renewable Energy. Vol. 1 American Solar Energy Society, 2014. pp. 621-625
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