Valuing Wind Power Project on Renewable Electricity Whole-Sale Tariff in Power Market

Abstract:

This article derives fuzzy profit models to value the wind power project. The performances of the proposed fuzzy profit models are verified by considering their application to a simulation case. The studied results are consistent with those provided by the conventional crisp models, and provide readily implemented possibility analysis tools for use in the arena of uncertain economics.

• Periodical: Applied Mechanics and Materials (Volume 483)
• Pages: 664-667
• DOI: https://doi.org/10.4028/www.scientific.net/AMM.483.664
• Online since: December 2013
• Authors: J.N. Sheen
• Keywords: Economic Feasibility, Feed-In Tariff, Fuzzy Mathematics, Power Market, Renewable Electricity

References

[1] Bureau of Energy, MOE Taiwan, Framework of Taiwan's sustainable energy policy, available: http: /www. moeaboe. gov. tw/, June, (2008).

[2] W.T. Tsai, Current status and development policies on renewable energy technology research in Taiwan, Renewable & Sustainable Energy Reviews, 9 (2005), 237-253.

DOI: 10.1016/j.rser.2004.03.003

[3] K.T. Chou and H.M. Liou, Analysis on energy intensive industries under Taiwan's climate change policy, Renewable & Sustainable Energy Reviews, 16 (2012), 2631-2642.

DOI: 10.1016/j.rser.2012.01.057

[4] J.N. Sheen, Fuzzy financial profitability analyses of demand side management alternatives from participant perspective, Information Sciences, 169 (2005), 329-364.

DOI: 10.1016/j.ins.2004.05.007

[5] J.N. Sheen, Fuzzy financial decision-making: load management programs case study, IEEE Transactions on Power Systems, 20 (2005), 1808-1817.

DOI: 10.1109/tpwrs.2005.856994

[6] A. Kaufmann and M.M. Gupta, Fuzzy Mathematical Models in Engineering and Management Science, Elsevier Science Publishers B.V. (1988).

[7] C.Y. Chiu and C.S. Park, Fuzzy Cash Flow Analysis using Present Worth Criterion, The Engineering Economist, 39 (1994), 113-137.

DOI: 10.1080/00137919408903117

[8] C. Kahraman, D. Ruan and E. Tolga, Capital budgeting techniques using discounted fuzzy versus probabilistic cash flows, Information Sciences, 142 (2002), 57-76.

DOI: 10.1016/s0020-0255(02)00157-3

[9] W.C. Giffin, Transform Techniques for Probability Modeling, Academic Press, New York, (1975).

[10] Mathew S. Wind Energy, Springer-Verlag Berlin Heidelberg, (2006).

[11] Cheng TP. Wind energy assessment incorporating particle swarm optimization method. Energy Conversion & management, 52 (2011), 1630-1637.

DOI: 10.1016/j.enconman.2010.10.024

[12] Steffen Jenner, Felix Groba, and Joe Indvik, Assessing the strength and effectiveness of renewable electricity feed-in tariffs in European Union countries, Energy Policy, 52(2013), 385-401.

DOI: 10.1016/j.enpol.2012.09.046