TY - JOUR
T1 - Development of wind power plants to increase the fulfilment ratio of renewable energy in Taiwan using system dynamics modelling
AU - Suryani, Erma
AU - Chou, Shuo Yan
AU - Hendrawan, Rully Agus
AU - Mudjahidin,
AU - Rahmawati, Rafika
AU - Handayani, Firin
AU - Az Zahra, Alifia
AU - Dewabharata, Anindhita
AU - Karijadi, Irene
N1 - Publisher Copyright:
© 2024 The Operational Research Society.
PY - 2024
Y1 - 2024
N2 - 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.
AB - 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.
KW - Wind power
KW - model
KW - renewable energy
KW - sustainable energy
KW - system dynamics
UR - http://www.scopus.com/inward/record.url?scp=85209660618&partnerID=8YFLogxK
U2 - 10.1080/17477778.2024.2426638
DO - 10.1080/17477778.2024.2426638
M3 - Article
AN - SCOPUS:85209660618
SN - 1747-7778
JO - Journal of Simulation
JF - Journal of Simulation
ER -