Abstract
Energy has become one of the most important building blocks of many changes in the world, and it still maintains this quality. The demand for natural resources and energy continues to increase daily. For this reason, the supply of reliable and sustainable energy has become an important issue that concerns and occupies mankind. Of the renewable energy sources, wind energy is a clean, reliable and inexhaustible source of energy with low operating costs. Turkey is a rich nation in terms of wind energy potential. In this context, the profitability of investments made in utilising domestic and renewable energy potential is important. Investment efficiency is a very important issue before and during the investment period due to the fact that wind energy investments are high cost investments. In this study, a solution will be proposed for the replacement of inefficient wind turbines which have been installed. In the ideal solution of the issue, the remaining lifetime of the wind turbine which is to be replaced and capacity utilization at the new location of the turbine will be used as key input factors. The results showed that it was important for the relocation decision to be made early for the investment to be more profitable. In the event of delayed decisions to relocate the turbine, a high capacity factor is expected in the new location. If a high capacity factor is not achieved, the relocation of the turbine will be meaningless and losses will be incurred for the investor. Also according to the results of the analysis, in the first two years, the turbine operating at a low capacity of 19% and 17% is profitable if it works at 26% capacity until the end of its economic life when change is made in the third year.
Highlights
Countries aiming for sustainability in economic growth and development ensure the reliability of energy supplies
Electricity production in Turkey in 2017 increased by 5.6% to 294.8 GWh compared with the previous year. 37% of this production was obtained from natural gas, 33% was obtained from coal, 20% from hydraulic energy, 6% from wind energy, 2% from geothermal energy and 2% from other sources [1]
In 2017, approximately 70% of electricity production came from fossil sources, namely coal, liquid fuels and natural gas, while about 28% was obtained from renewable energy sources
Summary
Countries aiming for sustainability in economic growth and development ensure the reliability of energy supplies. In meeting increasing energy needs, energy sources that reduce dependence on foreign sources and cause fewer environmental problems should be used within the energy portfolio For these reasons, increasing domestic and renewable energy sources is essential for Turkey, and this will provide many benefits for the national economy. As can be seen in the 2015-2019 Strategic Plan prepared by the Ministry of Energy and Natural Resources, sustainability as a framework is aimed for and a Turkey that benefits from domestic and renewable natural resources is targeted by diversification of energy sources to ensure security of supply. The use of domestic and renewable energy sources ensures diversification of resources within the energy portfolio, thereby allowing important progress to be made in reducing dependence on foreign energy sources and developing an environment that provides security of energy supply [5]. It was revealed in which year and at what capacity a turbine that had been installed in the wrong place could be turned into a profitable investment in its new place of installation
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