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Mathematical Problems in Engineering
Volume 2015, Article ID 614514, 9 pages
http://dx.doi.org/10.1155/2015/614514
Research Article

Economic Analysis of Wind Turbine Installation in Taiwan

Department of Electrical Engineering, Southern Taiwan University of Science and Technology, Tainan 710, Taiwan

Received 30 September 2014; Accepted 2 December 2014

Academic Editor: Mo Li

Copyright © 2015 Jeeng-Min Ling and Kunkerati Lublertlop. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

The wind speed characteristics are analyzed statistically based on a long-term hourly data record to evaluate the proper wind energy potential. The annual average wind speed and wind power density are investigated and compared by some significant indices, wind energy output and capacity factor, to show the variations of proper wind turbine specifications of installation in different locations of Taiwan. The minimum cost of wind energy is used to assess the economical feasibility for turbine installation in Taiwan. Great variations occur in the simulation results in both of the cost of energy and capacity factor. The detailed statistical analysis should be conducted to ensure the successful operation after wind turbine installations.