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Feasibility evaluation of Greek State 1990–2001 wind energy program

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  • Kaldellis, J.K.

Abstract

An extensive financial analysis of the entire Greek State wind parks is carried out taking into account the life-long variation of every wind power installation techno-economic parameter. This investigation is based on a well-elaborated and integrated cost–benefit model developed by the authors and properly adapted to the local market situation. On top of that, the time-evolution of the local market financial parameters is included, using official data. In this context, the payback period and the corresponding benefit to cost ratio (BCR) values of all wind power installations analyzed are computed. As a general conclusion, one may clearly declare that the Greek State wind power program leads to substantial financial loss, despite the existing advantageous conditions. The main reason for this unexpected financial behavior is the unexpected low energy production of most wind power plants along with their long-term failures. In conclusion, the future of every State wind park may be redefined in view of the attempted European electricity market deregulation.

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  • Kaldellis, J.K., 2003. "Feasibility evaluation of Greek State 1990–2001 wind energy program," Energy, Elsevier, vol. 28(14), pages 1375-1394.
    • Handle: RePEc:eee:energy:v:28:y:2003:i:14:p:1375-1394
    DOI: 10.1016/S0360-5442(03)00121-X
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    1. Kabouris, John & Perrakis, Kostis, 2000. "Wind electricity in Greece: recent developments, problems and prospects," Renewable Energy, Elsevier, vol. 21(3), pages 417-432.
    2. Kaldellis, J. K. & Gavras, Th. J., 2000. "The economic viability of commercial wind plants in Greece A complete sensitivity analysis," Energy Policy, Elsevier, vol. 28(8), pages 509-517, July.
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    7. Allan, Grant & Eromenko, Igor & Gilmartin, Michelle & Kockar, Ivana & McGregor, Peter, 2015. "The economics of distributed energy generation: A literature review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 42(C), pages 543-556.
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    9. Kaldellis, J.K. & Kavadias, K.A. & Filios, A.E., 2009. "A new computational algorithm for the calculation of maximum wind energy penetration in autonomous electrical generation systems," Applied Energy, Elsevier, vol. 86(7-8), pages 1011-1023, July.
    10. Kaldellis, J.K., 2008. "The wind potential impact on the maximum wind energy penetration in autonomous electrical grids," Renewable Energy, Elsevier, vol. 33(7), pages 1665-1677.
    11. Kaldellis, J. K. & Kavadias, K. A. & Filios, A. E. & Garofallakis, S., 2004. "Income loss due to wind energy rejected by the Crete island electrical network - the present situation," Applied Energy, Elsevier, vol. 79(2), pages 127-144, October.
    12. Bazmi, Aqeel Ahmed & Zahedi, Gholamreza, 2011. "Sustainable energy systems: Role of optimization modeling techniques in power generation and supply—A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(8), pages 3480-3500.
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