EWEA OFFSHORE 2015, March 10-12,2015, Copenhagen, Denmark

Return on Investment Modelling to Support Cost Avoidance Business Cases for Wind Farm O&M

Roozbeh Bakhshi, Peter Sandborn, Xin Lei and Amir Kashani-Pour

Center for Advanced Life Cycle Engineering (CALCE), Department of Mechanical Engineering, University of Maryland, College Park, MD 20740, USA


Accurate life-cycle costing is a key enabler for wind farm operation and maintenance (O&M) optimization. Research has shown that maintenance, for both on and offshore installations, is not optimized and that significant opportunities exist for reducing the total cost for maintenance activities and the cost due to production losses, especially for large wind farms. This paper describes a stochastic model for detailed life-cycle cost analysis and associated return on investment (ROI) analysis that can be used to assess offshore wind farm O&M management alternatives and technologies. A case study that examines the return on investment for the implementation of prognostics and health management (PHM) systems on a wind turbine is presented.

Complete article available to CALCE Consortium Members.

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