Chapter 9: Cost of Wind Energy Modeling

Paul Schwabe, Volker Berkout, David Weir, Ryan Wiser

Research output: Chapter in Book/Report/Conference proceedingChapter


This chapter focuses on considerations made when modeling cost of energy to be used in any of the abovementioned applications. The level of fidelity required to model each of the four, primary cost of energy elements depends on the characteristics of the wind power plant under consideration. Some 'top-down' models utilize empirical data to reflect currently installed wind power plants, while physics -based, or 'bottom up,' models may be implemented to estimate aspects of future wind-power-plant technology. Regardless of the ultimate application of cost of energy modeling, it is important to carefully assess the wind-power-plant characteristics to determine the type of model and the level of fidelity required to represent each of the four cost of energy elements.
Original languageAmerican English
Title of host publicationWind Energy Modeling and Simulation: Volume 1: Atmosphere and Plant
Subtitle of host publicationIET Energy Engineering Series, Volume 125
EditorsP. Veers
StatePublished - 2019

NREL Publication Number

  • NREL/CH-6A20-72771


  • energy cost modelling
  • energy elements
  • financing
  • LCOE
  • modeling
  • top-down models
  • wind energy
  • wind energy modeling
  • wind-power-plant characteristics


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