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An Analysis towards a Sustainable Energy System in Albania Highly Supported by Large Scale Integration of Wind Resources: A Case Study of Mamaj Wind Farm

Author

Listed:
  • Elena Bebi

    (Department of Production and Managing, Faculty of Mechanical Engineering, Polytechnic University of Tirana, Albania,)

  • Lorenc Malka

    (Department of Energy, Faculty of Mechanical Engineering, Polytechnic University of Tirana, Albania,)

  • Ilirian Konomi

    (Department of Hydraulic & Hydrotechnic, Faculty of Civil Engineering, Polytechnic University of Tirana, Albania,)

  • Majlinda Alcani

    (Department of Energy, Faculty of Mechanical Engineering, Polytechnic University of Tirana, Albania.)

Abstract

This article presents a highly important and detailed techno-economic analysis of a grid-connected wind farm, considered as one of the most potential location in the south of Albania, part of Tepelena region, Mamaj village. The procedure of selection of the wind turbine type is performed by evaluating the maximum Capacity Factor (CF) among 15 different types of wind turbines applied using WAsP energy tool enabling the optimization of energy system while economic analysis uses a Monte Carlo simulation well designed on RETScreen Expert tool. This modeling framework can address some beneficial values and solution which can be used from policy makers in the country to better assess the penetration of renewable energy sources into a large scale by finding the exact selling price of electricity and correcting the latest decrease of bonus factor from 1.3 in 2019 to 1.2 in 2020, which should be adjusted by a factor of 1.4. To check the economic feasibility of this project, the parameter of net present value (NPV), internal rate of return (IRR) and simple payback period (SPB) are adjusted accordingly and the financial feasible investment zone is determined.

Suggested Citation

  • Elena Bebi & Lorenc Malka & Ilirian Konomi & Majlinda Alcani, 2021. "An Analysis towards a Sustainable Energy System in Albania Highly Supported by Large Scale Integration of Wind Resources: A Case Study of Mamaj Wind Farm," International Journal of Energy Economics and Policy, Econjournals, vol. 11(1), pages 355-372.
    • Handle: RePEc:eco:journ2:2021-01-43
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    References listed on IDEAS

    as
    1. Connolly, D. & Lund, H. & Mathiesen, B.V. & Leahy, M., 2010. "A review of computer tools for analysing the integration of renewable energy into various energy systems," Applied Energy, Elsevier, vol. 87(4), pages 1059-1082, April.
    2. ASCE Editors, 1996. "1996 Conference Program," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 6.
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    More about this item

    Keywords

    RES; Wind Power; Net Present Value; Internal Rate of return; Discount Rate (r); Simple Payback Period; WAsP; RETScreen Expert;
    All these keywords.

    JEL classification:

    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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