Abstract
Potential revenue from wind power generation is an important factor to be considered when planning a wind power investment. In the future, that may become even more important because it is known that wind power generation tends to push electricity wholesale prices lower. Consequently, it is possible that if a region has plenty of installed wind power capacity, revenue per generated unit of electricity is lower there than could be assumed by looking at the mean electricity wholesale price. In this paper, we compare 17 different locations in Finland in terms of revenue from wind power generation. That is done by simulating hourly generation with three different turbine types at two different hub heights and multiplying that by the hourly electricity spot price for years 2018 and 2019. Estimated revenues differ greatly between locations and turbine types, major factor being technical potential i.e., the amount of electricity generated. Differences between revenues per generated MWh seem to be small, however, the smallest figures being on the western coast where installed capacities are also the largest in Finland.
Highlights
Climate change is an internationally recognized, global problem that is caused by excessive stock of greenhouse gases in the atmosphere
Wind power capacity in Finland is heavily concentrated on western coast because of reasons related to wind conditions, radars of The Finnish Defense Forces and zoning policy
Estimated average hourly revenues were the largest at Porvoo Emäsalo on the southern coast, while the second and third largest were at Pori Tahkoluoto and Kokkola Tankar on the western coast, respectively
Summary
Climate change is an internationally recognized, global problem that is caused by excessive stock of greenhouse gases in the atmosphere. One way of responding to it is decreasing greenhouse gas emissions emitted into the atmosphere, which slows down the rate of change. A major greenhouse gas is carbon dioxide (CO2) that is mainly emitted when burning fossil fuels as a source of energy to be used for example in transportation and electricity generation. A group belonging to those is renewable energy sources that covers for example biomass, hydro, solar and wind power. Wind power is a rapidly growing source of energy in electricity production in Finland. Annual power production increased from couple hundred to around 6000 GWh and in 2019, wind power accounted for 9% of total electricity generation in Finland which is 66 TWh [1,2]. According to data provided by Etha Wind [3], around 18500 MW of new capacity is either under construction or in different planning phases with planned start of production ranging from 2020 to 2030
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