Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.
-
Upload
joleen-armstrong -
Category
Documents
-
view
219 -
download
0
Transcript of Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.
![Page 1: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/1.jpg)
Long Island’s Offshore Wind
Farm
David Tobias
1.011 Project Evaluation
![Page 2: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/2.jpg)
Overview
• Energy generation in the US
• Offshore wind farms
• Proposal for Long Island
• Financial Analysis
• Risks and Uncertainties
• Non-financial costs and benefits
• Future
![Page 3: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/3.jpg)
US Net Energy Production by Source in 2001
![Page 4: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/4.jpg)
Problems with Current Energy
• Fossil fuels– Environment– Foreign dependence
• Nuclear– Public support
• Need other sources Renewables
![Page 5: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/5.jpg)
New York State
• Goal: “25% of electricity generated by non-polluting resources by 2013”
• “We want to get there as quickly as possible”
• “The Long Island Power Authority wants to lead the state in renewable technologies”
Long Island
![Page 6: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/6.jpg)
Offshore Wind Farm
• 100 MW capacity, 25-50 turbines• More consistent wind speeds• Does not use valuable land
![Page 7: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/7.jpg)
Project Schedule
![Page 8: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/8.jpg)
Financial Analysis
• Cost of turbines $85 million
• Installation cost $50 million
• Annual O&M $4 million
• Annual Revenue $22.5 million
• Operational for 20 years
• NPV of Project -$11 million
![Page 9: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/9.jpg)
Risks and Uncertainties
• Reliance on technological advances– Unproven technology
• State and federal permitting process
• Financial uncertainties
• Construction difficulties
• Natural disasters
![Page 10: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/10.jpg)
Tropical Storm and Hurricane Tracks (1851 – 2000)
![Page 11: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/11.jpg)
Costs and Benefits
• Freedom of energy supply– Replaces dependence
on foreign oil
• Environmentally sound– Prevents emissions of
greenhouse gases and other pollutants
• Reduces medical costs
• Visual impact– Off the coast of popular
beaches (state parks) • Danger to wildlife
– Birds– Fisheries– Endangered species
• Hurts local fishing• Energy source only
feasible due to government assistance
![Page 12: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/12.jpg)
![Page 13: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/13.jpg)
![Page 14: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/14.jpg)
![Page 15: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/15.jpg)
![Page 16: Long Island’s Offshore Wind Farm David Tobias 1.011 Project Evaluation.](https://reader036.fdocuments.net/reader036/viewer/2022062806/5697bfe91a28abf838cb6cf0/html5/thumbnails/16.jpg)
Future
• Looks very bright– Lack of opposition so far– Government commitment
• Wind power offers a valuable alternative to fossil fuels– Cuts down air pollution and greenhouse
gases
• Limited environmental and economic consequences