Manuscript - Financing Modeling of Renewable Energy Projects

Comparison between Renewable Projects
- High degree of certainty
- On site data measurement not needed,
interpolated ground based and satellite
data can be used
- Long term data sets available
SOLAR vs WIND
1. Resource
2. Energy Output
- Less certainty on resource estimation
- On site data measurement needed for a
period of 1 year
- Correlation against regional measurement
have been challenging
- Low capacity factors (18-26% on P50
depending on tracking equipment)
- Higher capacity factors (32-38% on P50)
3. Construction/Equipment
- Minimal construction risk, rating
agencies refer to “deployment risk”
- Off the shelf components, can be
packed into standard sea containers
- Inverters need to replaced during the
life of the projects
- Towers needs substantial foundation
structures
- Equipment difficult to move and
install on site (large cranes needed)
HYDRO vs WIND
1
2
3
Water flow
Limits on Amount of Water
Requires Sizing of Turbine and
Tradeoff Between Capacity Amount
and the Capacity Factor
Linear Relationship for Hydro
Wind Speed
No Limits on Amount of Air
Cubic Power Curve for Wind Speed
versus Wind Power
6
More volatility in water flow
4 Less volatility in wind speed
Less Uncertainty From Other Factors
Like Shear, Correlations, Wake, Icing,
Measurement