Abstract
This paper describes the development of a process-based and open-source balance of system cost model that provides the capability to evaluate both existing and novel offshore wind technologies. Individual design and installation steps are represented with bottom-up engineering models that compute times and costs associated with the process; furthermore, operational constraints are assigned to each process so that delays caused by weather and presence of marine mammals may be accounted for in the overall project timeline. The model structure, assumptions, inputs, and results are vetted with industry partners and compared against actual projects for validation. Installation times show reasonable agreement with real data. Project cost sensitivities are investigated to compute the system-level impact of different design choices. First, individual vessel efficiencies are computed for varying numbers of installation vessels and weather time series to show the diminishing returns of more than two feeder barges. Then, array cable capital costs and installation times are determined for a representative project with different turbine sizes. These values quantify the cost-benefit tradeoffs and show a net-cost savings of decreasing numbers of turbines, increased turbine spacing, and fewer turbine terminations. These results demonstrate that the balance of system model features the accuracy, functionality, and accessibility to serve as the foundation for a wide range of analyses to identify cost reduction potentials for offshore wind energy in the United States.
Highlights
The levelized cost of energy (LCOE) of offshore wind power plants comprises capital expenditures (CapEx), operational expenditures (OpEx), financial parameters, and annual energy production
CapEx costs are subdivided into the capital costs of the wind turbine generator (WTG) and the balance of system (BOS), which includes the CapEx of substructures, cables, and substations, as well as the times, delays, and costs required to install these components at sea [Kaiser and Snyder, 2012]
Durations and respective costs of each process are calculated based on fundamental parameters of the turbine components and available vessels. This bottom-up framework permits technological and process innovations to be modeled for a range of offshore wind projects in order to compare the impact on cost
Summary
The levelized cost of energy (LCOE) of offshore wind power plants comprises capital expenditures (CapEx), operational expenditures (OpEx), financial parameters, and annual energy production. Durations and respective costs of each process are calculated based on fundamental parameters of the turbine components and available vessels This bottom-up framework permits technological and process innovations to be modeled for a range of offshore wind projects in order to compare the impact on cost. Offshore wind power plants are customized for an individual site, meaning that component, vessel, and methodology selections need to be evaluated for a specific project Understanding how these design choices scale for different projects requires a bottom-up model which allows a user to modify these BOS aspects and computes the impact on all related aspects of the project as well as the overall cost. An exploration of model sensitivities is conducted for a representative project to demonstrate the potential impact of weather delays and increasing turbine size on project cost
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