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Michael STAVY, Principal, The Renewable Energy Finance and Technology Consultancy©
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Michael STAVY'S Background

Michael STAVY'S Short Form CV (resume)
Call for an Appointment

Michael STAVY'S Contact Information
Thank You for Your Business

All Michael's Invoices are now Sent Through PayPal
Let's Talk

Schedule to Meet Michael at a Renewable Energy Event
The Beighley-Stavy House

The Beighley-Stavy Home in Georgetown, CO
When in Chicago, ride the CTA

Innovations in Energy Efficient City Transit
Yes We Can!

The 2017 Chicago Climate Charter and the 2015 Paris Climate Accord
A Chicago Icon

Inside Marina City


I help Propery Owners Develop their Wind Assets

Wind Power

Solar Power
Call for an Appointment

Energy Storage Capacity
generate electricity and heat

Microturbine & Distributed Generation Projects
Yes, We Can!

The 2017 Chicago Climate Charter, 2015 Paris Climate Accord, Carbon Trading, the Carbon Tax
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Electricity and Natural Gas Procurement
Fuel Cell Vehicle

Hybrid, Electric, Natural Gas, Hydrogen and Alternative Fuel Vehicles


33 Papers and Counting

List of Michael STAVY'S Published Papers and Presentations
see my co-authors

My August 2002 JSEE Paper is Specifically Cited in 11 Papers


C U in Hamburg!

PAPER at WindEurope Conference 2018, 25-28 September, Hamburg
Download my Paper HERE!

PAPER at WindPower 2018, 7-10 May, Chicago
Lets Talk

PAPER at Solar Power International 2017, 10-13 September, Las Vegas
Nice Seeing you at SPI13

PAPER at Solar Power International 2013, 21-24 October, Chicago
Warsaw, Poland

Paper at the 2010 European Wind Energy Conference, 20-23 April, Warsaw Poland
Nice meeting with you in Marseille

PRESENTATION at the EWEC 2009 Marseille, France 16 - 19 March 2009

Paper at the 2009 Michigan Wind Conference 3-4 March 2009, Cobo Hall, Detroit, MI
See you in Chicago

WINDPOWER 2009, May 4-7, Chicago, IL USA

Press for the CHICAGO EDITION of my 2009 EWEC Paper
día bueno

PRESENTATION at the 2008 Latin American Wind Energy Conference, November 5-7, Guadalajara, MX

PRESENTATION at WINDPOWER 2008, June 1-4, Houston, TX

PRESENTATION at the 2008 European Wind Energy Conference, 31 March-3 April, Brussels. Belgium
Nice seeing you in LA

PAPER, "The Economics of Storing Wind Electricity as Hydrogen" at WindPower 2007 June 3-6 Los Angeles, CA USA
Kellogg Graduate School of Management Class of 1969

QUOTED in the Northwestern Alumni Magazine, Winter, 2007
Storing Wind Electricity as Hydrogen

PAPER "The Technology of Storing Wind Electrcity as Hydrogen" at the European Wind Energy Conference, 7-10 May, 2007, Milan, Italy
Storing Wind Electricity as Hydrogen

PAPER at the POWER GEN Renewable Energy and Fuels Conference, March 6-8, 2007, Las Vegas, NV
Spoke to Reporters

PRESENTATION "Reporting the Wind Story" At the Seminar "Reporting Energy Issues in the Midwest", Sponsored by the Foundation for American Communications, Urbana, IL September 14, 2006
Spark, November 2005

Letter to the Editor of SPARK, November, 2005
Clear Creek Public Radio

"US Energy Sources and Uses" October 29, 2005 Interview on KYGT, Clear Creek County, CO Public Radio
Illinois’ Voluntary Renewable Portfolio Standard

MY 2005 COMMENTS to Illinois Commerce Commision Concerning lllinois' Renewable Portfolio Standard (RPS)
Indiana Dunes National Lakeshore

MY ANSWERS to Certain Questions Concerning Illinois' 2005 RPS (Renewable Portfolio Standard)
Quoted Comments

COMMENTS Quoted in Newspapers or Magazines

PUBLISHED "January 3, 2005 Letter to the Editor" in Crain's Chicago Business
Journal of Solar Energy Engineering

PAPER "Carbon Content of Hydrogen Vehicle Fuel" in the February, 2005 Journal of Solar Energy Engineering
The Cost of Wind Electricity

PAPER "Worksheet to Compute the Cost Wind Electricity", World Renewable Energy Conference-VIII, Denver, CO USA, August 29-September 3, 2004
Fuel Cell Vehicle

PAPER California Climate Change Center's First Annual Conference on Climate Change, June 9-10, 2004, Sacramento, CA
Fuel Cell Vehicle

PAPER, National Hydrogen Association 20O4 Convention, April 26-30, 2004, Los Angeles, CA
Paper on Kyoto Protocol

PAPER-Global WINDPOWER 2004 Conference, Chicago, IL USA, 28-31 March 2004
Levelized Cost and Carbon Content of Hydrogen Vehicle Fuel

PAPER-United States Association for Energy Economics-NCAC-Washington, DC, Friday, December 19, 2003
Fuel Cell Vehicle

PAPER-Illinois Economics Association's 33rd Annual Meeting, October 17-18, 2003, Chicago, IL
Fuel Cell Vehicle

PAPER-American Solar Energy Society's SOLAR 2013 Conference, 21-23 June, Austin,TX
Yak Yak Yak

PAPER-International Solar Energy Society-SOLAR WORLD CONFERENCE 2003-14-19 June 2003,Goteborg, Sweden
Pure Hydrogen Flame

PAPER-European Wind Energy Association-2003 EUROPEAN WIND ENERGY CONFERENCE 16-20 June 2003-Madrid,Spain
Journal of Solar Energy Engineering

PAPER "Worksheet to compute the Levelized Cost of PV electricity", Journal of Solar Energy Engineering, August 2002
From Paris on Route N-7

PAPER, 2002 Global Windpower Conference, 2-5 April, Paris France



   PAPER at WindEurope Conference 2018, 25-28 September, Hamburg

Michael STAVY  
The Renewable Energy Finance and Technology Consultancy©  
300 N STATE ST APT 4434  
Chicago, Illinois USA 60654  

WindEurope Conference 2018
25-28 September, Hamburg, Germany

logo_windenergya2x.jpg  construk.gifunder konstrucsion 

Bauarbeiten im Gange  Travaux de construction en cours  under opførelse

en construcción   í smíðum       בבנייה   in costruzione     建設中      正在建設中


                       Michael in Chicago taking a break from writing his paper

My paper, A Financial Algorithm for Computing the Levelized Cost (US$/MWh; €/MWh) of the Bulk Storage of  Wind Electricity (LCOS), will be presented at the WindEurope Conference 2018, 25-28 September, Hamburg, Germany. Please stop by my Poster.  When I find out where conference poster area is located, I will post it here.

To meet in Hamburg, consider setting up an appointment now.  I expect a busy schedule. We can also meet in Copenhagen.  I will be in Demark from 5-12 October. For an appointment go to Michael STAVY'S Contact Information 

To register for the WindEurope Conference 2018 to go

Abstract—this paper discusses the financial and technical principles underlying the levelized cost (LC) method of computing the cost (US$/MWh; €/MWh) of storing wind electricity (LCOS) in bulk. The paper presents a CL algorithm. The algorithm equations are presented. The algorithm uses nine recognized energy storage system (ESS) specifications (specs) to compute the levelized cost of the stored wind electricity. Published spec values for the Eos Aurora® ESS and for the Cabin Creek Pumped Hydro Storage Plant are used in case studies to demonstrate the algorithm. Other examples are provided. An addendum case study for the proposed San Vincent Pumped Storage Plant is also presented. For rapid computation, an Excel worksheet of the LC algorithm is presented. The goal of this paper is to present a standard computational algorithm for financial analysts to use. A financial analyst can do a LC computation based on the paper’s LCOS algorithm and on the algorithm’s nine ESS specs. The paper’s LCOS algorithm gives the analyst who has the nine ESS spec values, a quick “back of the envelope” verification of a developer’s value for the levelized cost of bulk stored wind electricity. A complication arises in using this paper’s LC algorithm. The complication is that “published ESS spec values” are limited and that internal spec values must be confirmed.


Version: 25 July 2018

The New York Times just reported ( 07/24/18; ) on a proposed US$3 billion bulk pumped storage plant using Hoover Dam. This was a very well researched article. The Preconference 1st Draft of my WindEurope Conference 2018 paper has a case study of the US$1 billion proposed San Vincent Pumped Storage Plant. My algorithm can also handle the proposed Hoover Dam bulk storage plant. GULP! My LCOS values for bulk storage are different then the LCOS values for pumped storage developed by Lazard, a major financial advisory firm. This NYT article reported the Lazard LCOS values. 

I did, however, find that the article's cost of storing renewable energy requires a little more precision. First, the article reported that Lazard estimated that the LCOS for utility scale lithium ion batteries is 26 cents per kWh compared to 15 cents for pumped storage. The article then reported that the typical (California, I assume) household pays 12.5 cents per kWh for electricity.  The article would be more precise if it specified if the 15 cent Lazard estimate included the 12.5 cent cost of the electricity to be stored or only the added cost of storing the electricity. In the former case, the cost of storage is 2.5 cents while in the latter case the typical household would pay 27.5 cents for the stored electricity.  In the former case the cost is too low to recover the estimated 3 billion dollar cost of the Hoover storage plant while in the latter case, it is too high for the typical California household. 

You can download my LCOS values for San Vincent on my Preconference 1st draft.


Below Download a FREE copy of the Preconference 1st Draft of my WindEurope Conference 2018 Paper

Right now only the Preconference 1st Draft is available below.

Below will be my WindEurope Conference 2018 Paper,  three worksheets (1. page xx,Table I Worksheet, 2. ESS Comparison Worksheet, 3. Inflation Adjustment Worksheet, page xx, Table III) and, of course, my WindEurope2018 Poster. All these documents are PDF of Version 1.0

My poster PDF will be available for downloading on 31 August so that you can study it before the WindEurope 2018 Conference and so that you can recognize it when you are in the WindEurope 2018 Conference poster area.   

Take my poster PDF to your printer and they can make a full sized poster (55.1" X 35.4").  You can print an 8.5" X 11" version on your office printer.

My poster is suitable for your home or office wall or for your children's (grandchildren's) bedroom wall.

Ask for a FREE copy of my WindEurope Conference 2018 LCOS Excel Workbook 

My webserver does not accept Excel files. Email me at  and ask for a free copy of my WindEurope Conference 2018 LCOS Excel Workbook with its three worksheets.   

1. my paper's page xx, Table I Excel LCOS Worksheet

2. the ESS Comparison Worksheet that directly computes the  differences and % differences between two ESS.  I used this "behind the paper" Excel worksheet to compute the differences reported in my paper.

3. my paper's Inflation Adjustment Worksheet, page xx, Table III

Take Advantage of my WindEurope Conference 2018 Special Offer

For US$150 (€131.89 [17Aug18]) ,you will get a one hour consultation (a US$300 value [€263.78]) to discuss my WindEurope 2018 LCOS paper. At your appointment, I can discuss both my WindEurope 2018 paper and the competing newest version of the Lazard LCOS paper.

EXTRA BONUS! You will get a copy of my Journal of Solar Energy Engineering (JSEE) paper, A Financial Worksheet for Computing the Levelized Cost of Solar Electricity Generated at a Grid Connected PV Generating Plant (LCOE), August 2002, Vol 124, Page 319.    At your one hour appointment, I will also discuss my 2002 JSEE paper and the newest version of the competing Lazard LCOE paper.

Everybody in renewable energy finance knows who Lazard is.  Incase you do not know go to  To prepare for our appointment, while you are there download the latest version of the Lazard LCOS and LCOE papers.

HOW TO PURCHASE my WindEurope Conference 2018 Special Offer  

Email me your "purchase order" to and I will send you a PayPal invoice. 

GO TO; All Michael's Invoices are now Sent Through PayPal

After I I receive your payment in my PayPal Account, I will contact you to arrange at time and place (Hamburg? Copenhagen? Chicago? Skype? Denver? Georgetown, CO {Not DC}) for us to work together.

"I was born in Liverpool, but I grew up in Hamburg",  John Lennon  (one of my role models)

"I was born in Chicago, but I will give my 2018 WindEurope Conference Paper in Hamburg",  Michael STAVY

Check this Carpool Karaoke video from the Late Late Night Show with James Corden and with one of Liverpool's favorite sons!

If you are viewing my webpage with Chrome, Edge or FireFox, you will see the Like and Share Buttons below.

If you liked the preconference first draft of my WindEurope 2018 Conference Paper, please press the Like Button.  This is pure logic. 

If you would like to share my website, please press the Share Button. This is also pure logic. 

Page Revised:  15 August 2018

File Location: /windham18

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Mon Jul 23 2018 08:35
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Michael STAVY, Advisor on the Finances of Renewable Energy

Wind, Solar, Energy Storage, Climate Change Mitigation

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