Wind power revenue potential: Simulation for Finland

Sakarias Paaso*, Ali Khosravi

*Corresponding author for this work

Research output: Contribution to journalArticleScientificpeer-review

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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.

Original languageEnglish
Pages (from-to)1111-1133
Number of pages23
JournalEnergy Engineering: Journal of the Association of Energy Engineering
Volume118
Issue number4
DOIs
Publication statusPublished - 31 May 2021
MoE publication typeA1 Journal article-refereed

Keywords

  • Finland
  • Renewable energy
  • Resource assessment
  • Revenue
  • Wind power

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