Capacity Factor of Wind Power: Realized Values vs. Estimates
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Abstract: For two decades, the capacity factor of wind power measuring the mean energy delivered by wind turbines has been assumed to be around 35% of the name plate capacity. Yet, the mean realized value for Europe over the last five years is about 21%, thus making levelized cost 66% higher than previously thought. We document this discrepancy, offer rationalizations, and conclude with the consequences for policy making.
Social Science Research Network, October 25, 2008
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