Economic Analysis of WECSs Using LCOE and PVC Approaches in Northern Ethiopia
DOI:
https://doi.org/10.13052/dgaej2156-3306.3332Keywords:
Levelized cost of electricity, life cycle cost, present value of cost, wind energy conversion system, economic analysis, Ethiopia.Abstract
In this study, the relative economic contrast of wind energy conver-
sion systems (WECSs) are examined using levelized cost of electricity
(LCOE) and present value cost (PVC) as measures of merit of system
life cycle cost. From the analysis of data and discussion, capacity factor
and useful life of the wind turbine have a positive impact on the cost
of electricity produced by the WECS, while the other input parameters
of LCOE and PVC increase the system life cycle cost, as their values in-
creases. The trend of capacity factors decreased linearly, and the simul-
taneous increase in LCOE and PVC was noticed.
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