Technical and economic evaluation of small wind turbines for the main EU countries

This paper presents a technical and economic analysis of small size wind turbines (rated power less than 200 kW) in the major EU countries (Germany, France, Italy, The Netherlands and Spain) highlighting the main factors that affect the electricity final cost. A parametric cost model has been developed in order to analyze the most important profitability index (Net Present Value, NPV) varying several operating parameters: the characteristics of the installation site (wind average speed and its statistical distribution), the wind turbine type (turbine features and power curve) and the economical keys (cost of capital, national regulations, incentives and taxes). The cost model takes into account the initial investment and the operative cash flows: the investment is evaluated in terms of purchase, transport and installation cost; the operative cash flows are quantified by means of a statistical approach that assesses the wind speed probability with a Weibull distribution function. Using this approach, many different scenarios were investigated varying the model parameters to examine which of these mainly affect the profitability of small wind turbines: a comparative study was conducted between the selected EU countries, to determine where and in which conditions this technology is economically feasible.