Open Access

ARTICLE

Wind Power Revenue Potential: Simulation for Finland

by Sakarias Paaso^*, Ali Khosravi

Department of Mechanical Engineering, Aalto University, Espoo, Finland

* Corresponding Author: Sakarias Paaso. Email:

Energy Engineering 2021, 118(4), 1111-1133. https://doi.org/10.32604/EE.2021.014949

Received 10 November 2020; Accepted 18 March 2021; Issue published 31 May 2021

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.

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Keywords

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