Renewable Energy Technology Assessments - Kauai Island Utility ...
Renewable Energy Technology Assessments - Kauai Island Utility ... Renewable Energy Technology Assessments - Kauai Island Utility ...
Kaua’i Island Utility Cooperative Renewable Energy Technology Assessments 9.0 Wind Table 9-5. Wind Life-Cycle Economic Assumptions ($2005). Unit Kalaheo Omao Hanapepe Kokee Anahola Poipu 21 March 2005 9-24 Black & Veatch Maha'ulepu Capacity MW 6.6 6.6 6.6 1.98 6.6 6.6 6.6 Capital Cost $/kW 1628 1689 1947 2249 1826 1628 1689 First Year Fixed O&M $/kW-yr 39.06 39.11 39.11 75.1 39.11 39.06 39.11 First Year Variable O&M $/MWh 1.73 1.68 1.68 1.73 1.78 1.95 1.68 First Year Fuel Cost $/MBtu N/A N/A N/A N/A N/A N/A N/A Net Plant Heat Rate Btu/kWh N/A N/A N/A N/A N/A N/A N/A Capacity Factor percent 35% 36% 36% 36% 34% 31% 36% KIUC Levelized Cost 2009$/ MWh 64.46 64.24 70.76 95.88 71.68 72.77 64.24 KIUC Premium 2009$/ MWh (90.10) (90.32) (83.80) (58.68) (82.88) (81.79) (90.32) Developer Levelized Cost 2009$/ 75.58 75.70 86.55 112.12 87.05 87.12 75.70 Developer Premium MWh 2009$/ MWh (78.98) (78.86) (68.01) (42.44) (67.51) (67.44) (78.86) The levelized cost of generating power from the seven wind projects with KIUC ownership ranged from $64/MWh to $73/MWh for the 6.6 MW projects to $96/MWh for the 2 MW project. No wind site stands out as being vastly superior to others. This gives KIUC good flexibility (and negotiation position) in siting the first projects in the location deemed most suitable. When the avoided capacity and energy costs were considered, the levelized cost premiums ranged from ($90)/MWh to ($59)/MWh. These results indicate that wind is attractive economically compared to KIUC’s forecast of avoided costs. The levelized cost of generating power with developer ownership and a PPA with KIUC was also calculated. The results are very close to KIUC ownership. The value of the PTC for the private developer is nearly equal to the value of low cost financing for KIUC.
Kaua’i Island Utility Cooperative Renewable Energy Technology Assessments 9.0 Wind Plant Input Data Economic Input Data Rate Escalation Capital Cost ($1,000) 12,561 First Year Fixed O&M ($1,000) 290.52 3.0% Total Net Capacity (MW) 6.60 First Year Variable O&M ($1,000) 39.36 3.0% Capacity Factor 36% Fuel Rate ($/MWh) 0.00 3.0% Full Load Heat Rate, Btu/kWh (HHV) - Debt Term 25 Project Life 25 Present Worth Discount Rate 5.0% Hours per Year Annual 8,760 Levelized Fixed Charge Rate 7.10% Avoided Avoided Capital Variable PW Total Capacity Energy Cost Fixed O&M O&M Fuel Rate Fuel Cost Total Cost Cost Busbar Cost PW Cost Cost Cost Year ($1,000) ($1,000) ($1,000) ($/MBtu) ($1,000) ($1,000) ($1,000) ($/MWh) ($/MWh) ($/kW) ($/MWh) 2009 891 291 39 - - 1,221 1,163 58.67 55.88 0.00 111.89 2010 891 299 41 - - 1,231 1,117 59.15 53.65 0.00 121.46 2011 891 308 42 - - 1,241 1,072 59.63 51.51 0.00 131.10 2012 891 317 43 - - 1,252 1,030 60.14 49.48 0.00 133.40 2013 891 327 44 - - 1,263 989 60.66 47.53 0.00 139.93 2014 891 337 46 - - 1,274 950 61.19 45.66 160.34 146.48 2015 891 347 47 - - 1,285 913 61.75 43.88 162.00 155.09 2016 891 357 48 - - 1,297 878 62.31 42.18 160.15 159.54 2017 891 368 50 - - 1,309 844 62.90 40.54 192.08 155.25 2018 891 379 51 - - 1,322 811 63.50 38.98 192.80 164.57 2019 891 390 53 - - 1,335 780 64.12 37.49 192.35 168.47 2020 891 402 54 - - 1,348 751 64.76 36.06 183.14 166.80 2021 891 414 56 - - 1,362 722 65.42 34.69 203.74 163.22 2022 891 427 58 - - 1,376 695 66.10 33.38 200.11 168.86 2023 891 439 60 - - 1,390 669 66.79 32.13 196.32 159.73 2024 891 453 61 - - 1,405 644 67.51 30.93 214.88 164.41 2025 891 466 63 - - 1,421 620 68.25 29.78 202.03 166.83 2026 891 480 65 - - 1,436 597 69.02 28.68 206.07 170.16 2027 891 495 67 - - 1,453 575 69.80 27.62 210.19 173.57 2028 891 509 69 - - 1,470 554 70.61 26.61 214.40 177.04 2029 891 525 71 - - 1,487 534 71.45 25.64 218.68 180.58 2030 891 540 73 - - 1,505 514 72.30 24.72 223.06 184.19 2031 891 557 75 - - 1,523 496 73.19 23.83 227.52 187.87 2032 891 573 78 - - 1,542 478 74.10 22.98 232.07 191.63 2033 891 591 80 - - 1,562 461 75.04 22.16 236.71 195.46 Levelized Bus-bar Cost, $/MWh Net Levelized Cost ($1,000) Omao Wind 64.28 1,337.96 Levelized Avoided Capacity Cost, $/MWh - Levelized Avoided Energy Cost, $/MWh 154.56 Levelized Cost Premium, $/MWh (90.28) Figure 9-12. Life-cycle Cost for Omao Wind Project. 9.7 Advantages and Disadvantages of Technology A discussion of each of the qualitative screening criteria is provided in this section. 9.7.1 Fit to KIUC Needs Although wind cannot provide firm capacity, KIUC interest for reduced fuel consumption is well met by wind power as shown by the savings demonstrated in Table 9-5 KIUC has sufficient generation to cover all current loads and flexible generation such that it can compensate for the intermittency of wind power, at least at small elvels of penetration. In the long term, KIUC would do well to consider project sites with wind profiles that match load profiles to maximize effective penetration of wind. One such 21 March 2005 9-25 Black & Veatch
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Kaua’i <strong>Island</strong> <strong>Utility</strong> Cooperative<br />
<strong>Renewable</strong> <strong>Energy</strong> <strong>Technology</strong> <strong>Assessments</strong> 9.0 Wind<br />
Table 9-5. Wind Life-Cycle Economic Assumptions ($2005).<br />
Unit Kalaheo Omao<br />
Hanapepe<br />
Kokee Anahola Poipu<br />
21 March 2005 9-24 Black & Veatch<br />
Maha'ulepu<br />
Capacity MW 6.6 6.6 6.6 1.98 6.6 6.6 6.6<br />
Capital Cost $/kW 1628 1689 1947 2249 1826 1628 1689<br />
First Year Fixed O&M $/kW-yr 39.06 39.11 39.11 75.1 39.11 39.06 39.11<br />
First Year Variable O&M $/MWh 1.73 1.68 1.68 1.73 1.78 1.95 1.68<br />
First Year Fuel Cost $/MBtu N/A N/A N/A N/A N/A N/A N/A<br />
Net Plant Heat Rate Btu/kWh N/A N/A N/A N/A N/A N/A N/A<br />
Capacity Factor percent 35% 36% 36% 36% 34% 31% 36%<br />
KIUC Levelized Cost<br />
2009$/<br />
MWh<br />
64.46 64.24 70.76 95.88 71.68 72.77 64.24<br />
KIUC Premium<br />
2009$/<br />
MWh<br />
(90.10) (90.32) (83.80) (58.68) (82.88) (81.79) (90.32)<br />
Developer Levelized Cost<br />
2009$/<br />
75.58 75.70 86.55 112.12 87.05 87.12 75.70<br />
Developer Premium<br />
MWh<br />
2009$/<br />
MWh<br />
(78.98) (78.86) (68.01) (42.44) (67.51) (67.44) (78.86)<br />
The levelized cost of generating power from the seven wind projects with KIUC<br />
ownership ranged from $64/MWh to $73/MWh for the 6.6 MW projects to $96/MWh for<br />
the 2 MW project. No wind site stands out as being vastly superior to others. This gives<br />
KIUC good flexibility (and negotiation position) in siting the first projects in the location<br />
deemed most suitable. When the avoided capacity and energy costs were considered, the<br />
levelized cost premiums ranged from ($90)/MWh to ($59)/MWh. These results indicate<br />
that wind is attractive economically compared to KIUC’s forecast of avoided costs.<br />
The levelized cost of generating power with developer ownership and a PPA with<br />
KIUC was also calculated. The results are very close to KIUC ownership. The value of<br />
the PTC for the private developer is nearly equal to the value of low cost financing for<br />
KIUC.
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