Market value of wind power

J.E.S. Haan, de, M.A. Shoeb, H.M. Lopes Ferreira, W.L. Kling

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

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Abstract

Variability and predictability constraints of wind hinder the cost-efficient integration of wind power generation into power markets. Within the framework of EIT KIC INNOENERGY Offwindtech project, a ‘Market Value’ tool is developed. Here, the market value of wind power generation can be assessed with respect to its wind site and the respective power market it is integrated in. A case study is introduced to compare the potential market value of different wind sites (offshore/onshore) and of different power market concepts (day ahead/intra-day). It is found that the relative market value of wind power does not significantly differ between its diverse conditions. Nevertheless, when considering the costs of wind power generation, coastal wind power generation, to be sold in intra-day markets, has the largest potential to be cost-efficient. Future reduction of offshore installation and maintenance cost could further increase the market value/competition of offshore wind power. The difference of predictability accuracy between onshore and offshore wind power generation has negligible impact on the results
Original languageEnglish
Title of host publicationProceedings of the 12th International Workshop Large-Scale Integration of Wind Power Transmission Networks Offshore Wind Farms (WIW 2013), October 22-24, 2013, London
Publication statusPublished - 2013
Eventconference; WIW 2013 -
Duration: 1 Jan 2013 → …

Conference

Conferenceconference; WIW 2013
Period1/01/13 → …
OtherWIW 2013

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Wind power
Power generation
Costs
Power markets

Cite this

Haan, de, J. E. S., Shoeb, M. A., Lopes Ferreira, H. M., & Kling, W. L. (2013). Market value of wind power. In Proceedings of the 12th International Workshop Large-Scale Integration of Wind Power Transmission Networks Offshore Wind Farms (WIW 2013), October 22-24, 2013, London
Haan, de, J.E.S. ; Shoeb, M.A. ; Lopes Ferreira, H.M. ; Kling, W.L. / Market value of wind power. Proceedings of the 12th International Workshop Large-Scale Integration of Wind Power Transmission Networks Offshore Wind Farms (WIW 2013), October 22-24, 2013, London. 2013.
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title = "Market value of wind power",
abstract = "Variability and predictability constraints of wind hinder the cost-efficient integration of wind power generation into power markets. Within the framework of EIT KIC INNOENERGY Offwindtech project, a ‘Market Value’ tool is developed. Here, the market value of wind power generation can be assessed with respect to its wind site and the respective power market it is integrated in. A case study is introduced to compare the potential market value of different wind sites (offshore/onshore) and of different power market concepts (day ahead/intra-day). It is found that the relative market value of wind power does not significantly differ between its diverse conditions. Nevertheless, when considering the costs of wind power generation, coastal wind power generation, to be sold in intra-day markets, has the largest potential to be cost-efficient. Future reduction of offshore installation and maintenance cost could further increase the market value/competition of offshore wind power. The difference of predictability accuracy between onshore and offshore wind power generation has negligible impact on the results",
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year = "2013",
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booktitle = "Proceedings of the 12th International Workshop Large-Scale Integration of Wind Power Transmission Networks Offshore Wind Farms (WIW 2013), October 22-24, 2013, London",

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Haan, de, JES, Shoeb, MA, Lopes Ferreira, HM & Kling, WL 2013, Market value of wind power. in Proceedings of the 12th International Workshop Large-Scale Integration of Wind Power Transmission Networks Offshore Wind Farms (WIW 2013), October 22-24, 2013, London. conference; WIW 2013, 1/01/13.

Market value of wind power. / Haan, de, J.E.S.; Shoeb, M.A.; Lopes Ferreira, H.M.; Kling, W.L.

Proceedings of the 12th International Workshop Large-Scale Integration of Wind Power Transmission Networks Offshore Wind Farms (WIW 2013), October 22-24, 2013, London. 2013.

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

TY - GEN

T1 - Market value of wind power

AU - Haan, de, J.E.S.

AU - Shoeb, M.A.

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PY - 2013

Y1 - 2013

N2 - Variability and predictability constraints of wind hinder the cost-efficient integration of wind power generation into power markets. Within the framework of EIT KIC INNOENERGY Offwindtech project, a ‘Market Value’ tool is developed. Here, the market value of wind power generation can be assessed with respect to its wind site and the respective power market it is integrated in. A case study is introduced to compare the potential market value of different wind sites (offshore/onshore) and of different power market concepts (day ahead/intra-day). It is found that the relative market value of wind power does not significantly differ between its diverse conditions. Nevertheless, when considering the costs of wind power generation, coastal wind power generation, to be sold in intra-day markets, has the largest potential to be cost-efficient. Future reduction of offshore installation and maintenance cost could further increase the market value/competition of offshore wind power. The difference of predictability accuracy between onshore and offshore wind power generation has negligible impact on the results

AB - Variability and predictability constraints of wind hinder the cost-efficient integration of wind power generation into power markets. Within the framework of EIT KIC INNOENERGY Offwindtech project, a ‘Market Value’ tool is developed. Here, the market value of wind power generation can be assessed with respect to its wind site and the respective power market it is integrated in. A case study is introduced to compare the potential market value of different wind sites (offshore/onshore) and of different power market concepts (day ahead/intra-day). It is found that the relative market value of wind power does not significantly differ between its diverse conditions. Nevertheless, when considering the costs of wind power generation, coastal wind power generation, to be sold in intra-day markets, has the largest potential to be cost-efficient. Future reduction of offshore installation and maintenance cost could further increase the market value/competition of offshore wind power. The difference of predictability accuracy between onshore and offshore wind power generation has negligible impact on the results

M3 - Conference contribution

BT - Proceedings of the 12th International Workshop Large-Scale Integration of Wind Power Transmission Networks Offshore Wind Farms (WIW 2013), October 22-24, 2013, London

ER -

Haan, de JES, Shoeb MA, Lopes Ferreira HM, Kling WL. Market value of wind power. In Proceedings of the 12th International Workshop Large-Scale Integration of Wind Power Transmission Networks Offshore Wind Farms (WIW 2013), October 22-24, 2013, London. 2013