Development of wind power plants to increase the fulfilment ratio of renewable energy in Taiwan using system dynamics modelling

Erma Suryani*, Shuo Yan Chou, Rully Agus Hendrawan, Mudjahidin, Rafika Rahmawati, Firin Handayani, Alifia Az Zahra, Anindhita Dewabharata, Irene Karijadi

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

This research aims to improve wind energy development by addressing environmental challenges and market dynamics. To achieve this, a system dynamics model was used to analyze the complex relationships between various factors, including wind energy production, electricity demand, costs, and government policies. The study focuses on increasing the fulfilment ratio and reducing the price of wind energy. By simulating different scenarios, researchers explored the potential impact of expanding wind farm capacity through the addition of onshore and offshore turbines. The research also investigates the role of government incentives, particularly the feed-in tariff (FIT), in stimulating investment in wind energy. The findings suggest that a higher FIT can significantly boost profitability, attract more investment, and accelerate the expansion of wind farm capacity. The optimal FIT level of 5.5 NTD/KWh is projected to lead to a 6.7% annual growth rate and substantial profits by 2040.

Original languageEnglish
JournalJournal of Simulation
DOIs
Publication statusAccepted/In press - 2024

Keywords

  • Wind power
  • model
  • renewable energy
  • sustainable energy
  • system dynamics

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