KIEE - The Transactions of the Korean Institute of Electrical Engineers

Mobile QR Code QR CODE : The Transactions of the Korean Institute of Electrical Engineers

QR CODE : The Transactions of the Korean Institute of Electrical Engineers

The Transactions of the Korean Institute of Electrical Engineers

The Transactions of the Korean Institute of Electrical Engineers

ISO Journal TitleTrans. Korean. Inst. Elect. Eng.

SCImago Journal & Country Rank

Main Menu

Journal Search

PDF INFO


Title	Economic Assessment of a Wind Farm Project Using Least Square Monte-Carlo (LSMC) Simulation
Authors	김진아(Kim, Jin-A) ; 이종욱(Lee, Jong-Uk) ; 이재희(Lee, Jae-Hee) ; 주성관(Joo, Sung-Kwan)
DOI	https://doi.org/10.5370/KIEE.2011.60.1.032
Page	pp.32-35
ISSN	1975-8359
Keywords	Wind farm investment ; Risk factor ; LSMC (Least Square Monte-Carlo)
Abstract	The economic value of a wind farm project is influenced by various risk factors such as wind power output and electricity market price. In particular, there is uncertainty in the economic evaluation of a wind farm project due to uncertain wind power outputs, which are fluctuated by weather factors such as wind speed, and volatile electricity market prices. This paper presents a systematic method to assess the economic value and payback period of a wind farm project using Least Square Monte-Carlo (LSMC) simulation. Numerical example is presented to validate the effectiveness of the proposed economic assessment method for a wind farm project.

© KIEE All right's reserved

This is an Open-Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0/) which permits unrestricted non-commercial use, distribution and reproduction in any medium, provided the original work is property cited.