Electric Power ›› 2014, Vol. 47 ›› Issue (8): 154-160.DOI: 10.11930/j.issn.1004-9649.2014.8.154.6

• Energy Conservation and Environmental Protection • Previous Articles    

Economic Evaluation of Wind Power Generation Based on Benefits of Carbon Dioxide Emission Reduction

ZHAO Xiao-li1, 2, WANG Shun-hao1, 2   

  1. 1. School of Economic and Management, North China Electric Power University, Beijing 102206, China;
    2. Institute for Low Carbon Economy and Trade, North China Electric Power University, Beijing 102206, China
  • Received:2014-03-19 Online:2014-08-18 Published:2015-12-10
  • Supported by:
    This work is supported by National Natural Science Foundation (71373078, 71073053)

Abstract: The deterioration of the environment has forced policymakers to substitute conventional energy with renewable energy. However, the high cost of renewable energy power generation constrains the development of renewable energy. In this paper, considering the benefits of carbon dioxide emission reduction, we calculated the total cost(including the economic cost and the environmental cost) of coal fired power generation and wind power generation using the life-cycle approach and the straight-line method with the data from coal-fired power plants and wind farms in the year 2012. The result shows that when taking the benefits of carbon dioxide emission reduction into account, the cost of wind power generation is only 0.027 yuan/(kW·h) higher than that of thermal power generation. Especially under the condition that the annual utilizing hours of wind farms are kept at 2 200 hours or above, the total cost of wind power generation will be lower than that of coal-fired power generation.

Key words: renewable energy, carbon footprint, power generation cost, wind power, thermal powerl, economic evaluation, life-cycle approach, straight-line method

CLC Number: