Academic journal article Business: Theory and Practice

Managing Selection of Wind Power Generation Technologies

Academic journal article Business: Theory and Practice

Managing Selection of Wind Power Generation Technologies

Article excerpt

Introduction

Dynamics of business and its environment in free market economies inevitably requires cost efficiency for any business models or actions involved in order to sustain competitiveness. The acknowledged impacts of climate change on economic systems worldwide also stipulates the need for transformation of energy systems (production, storage, supply). For instance, the European Union (EU) seek to reduce carbon dioxide (C[O.sub.2]) emissions by at least 85% by 2050 compared to 1990 (e.g., other countries may have their own decarbonization targets under latest Paris Agreement (UNFCC 2016). For this purpose, the Energy Roadmap 2050 (EC 2011,2013) tests four de-carbonization scenarios with renewables, nuclear, carbon capture and storage (CSS) and energy efficiency. Each of the scenarios in principle requires a variety of measures to be combined together into a well-matched system. Measures in question may include, for example, wind and solar, nuclear and geothermal, fossil and biofuels, hydrogen and marine energy sources as well as upgrading traditional facilities and introducing advanced information and communication technologies. However, every of given measure may have its disadvantages. It can be limited in scale, or is of unstable supply (e.g., due to erratic weather conditions) or not secure either too expensive comparing with conventional fossil fuel-based solutions. In this respect, the combination of the latter needs to be carefully considered (e.g., number of renewables or renewable with conventional solutions) inevitably involving multicriteria analysis. Respective specific scientific researches subject to matching renewable energy also other energy efficiency measures are limited and fragmentary. Especially the scarcity is seen when considering the application of multi-criteria analysis therein along with regard to the rationality of multifaceted management decisions involved.

Having in mind the context, the paper synthesizes a great spectrum of literature and empirical data attempting to systematically approach this issue analyzing, as the example, peculiarities of the use of wind power (on-shore and off-shore) generation solutions. The specific focus is on improving, as a complex, a management of the selection process of wind power generation technologies utilizing multi-criteria analysis tools. For this purpose, as the result of the research, the author proposes the principle management model allowing to substantiate a selection process enabling public or private organizations using the combination of the multi-criteria analysis methods to rationally choose most beneficial solutions consequently contributing to the sustained competitive growth of organization or economy (and (or) its particular sector in question) at state, county, and municipal levels accordingly.

1. Evolving wind power generation: literature and market analysis

The study made is built on the investigation of actual databases of relevant international public institutions (in EU, the United States (US)) along with the author's research and empirical findings made over the last 10-year period on renewable energy solutions and carbon market development in EU.

According to the data (GWEC 2014, 2015, 2016; EWEA 2017a, 2017b), the wind power generation cumulative capacity installed has increased worldwide during the last twenty years 100 times from 2,7 gigawatts (GW) to 289 GW by the beginning of 2013 growing annually in average by 25% between 2003 and 2013. As to the European Union (EU), the Energy Roadmap 2050 (EC 2011,2013) estimates ~14% of EU electricity to be generated by wind power by 2020. The investigation revealed that such progress is also affected by the technology advancement reducing energy production costs (EPC) and initial investments for wind turbines. It was noticed as well that the wind turbine electricity generators are transforming towards the permanent magnets based magnetic field (electromagnets are less reliable). …

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