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MY
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Home
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My Background
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My Contact Information
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My PAPER at WINDPOWER 2008, June 1-4, Houston, TX
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My PRESENTATION at the 2008 European Wind Energy Conference, 31 March-3 April, Brussels. Belgium
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My VISIT to PARIS, 26 March - 15 April 2008
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MY VISIT to Georgetown, CO 5-15 Febrary 2008
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My PAPERS are Cited in Other Published Papers
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MY QUOTE in the Northwestern Alumni Magazine, Winter, 2007
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MY GHG Emissions Papers Will Help You Understand Global Warming
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My PAPER, "The Economics of Storing Wind Electricity as Hydrogen" at WindPower 2007 June 3-6 Los Angeles, CA USA
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My PAPER, "The Technology of Storing Wind Electrcity as Hydrogen" at the European Wind Energy Conference, 7-10 May, 2007, Milan, Italy
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My First BLOG (April 5, 2007) on the New York Times Web Site
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My PAPER at the POWER GEN Renewable Energy and Fuels Conference, March 6-8, 2007, Las Vegas, NV
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My 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
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My ATTENDANCE at SOLAR 2006, July 8-13, 2006, Denver, CO
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My ATTENDANCE at WINDPOWER 2006, June 4-7, 2006, Pittsburgh, PA
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My ATTENDANCE at the AWEA RPS Workshop, March 7-8, 2006, Chicago, IL
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My Letter to the Editor of SPARK, November, 2005
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My "US Energy Sources and Uses" Interview on KYGT, Clear Creek County, CO Public Radio
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My ANSWERS to Certain Questions Concerning Illinois' 2005 Renewable Portfolio Standard (RPS)
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My 2005 COMMENTS to Illinois Commerce Commision Concerning lllinois' Renewable Portfolio Standard
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My October 4 Speech to the Sierra Club, Chicago Group, North Shore Program
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VISIT to Washington, DC 23-30 June 2005
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COMMENTS Quoted in Newspapers or Magazines
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PUBLISHED "Letter to the Editor" in Crain's Chicago Business
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UNPUBLISHED Letters to the Editor
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My PAPER Published in the February, 2005 Journal of Solar Energy Engineering
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My PAPER Published in the August, 2002 Journal of Solar Energy Engineering
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My PAPER World Renewable Energy Conference-VIII, Denver, CO USA, August 29-September 3, 2004
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MY PAPER California Climate Change Center's First Annual Conference on Climate Change, June 9-10, 2004, Sacramento, CA
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My PAPER, National Hydrogen Association 20O4 Convention, April 26-30, 2004, Los Angeles, CA
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MY PAPER-Global WINDPOWER 2004 Conference, Chicago, IL USA, 28-31 March 2004
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MY PAPER-United States Association for Energy Economics-NCAC-Washington, DC, Friday, December 19, 2003
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PAPER-Illinois Economics Association's 33rd Annual Meeting, October 17-18, 2003, Chicago, IL
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PAPER-American Wind Energy Association, WIND 2003 Conference, May 18-21, 2003, Austin, TX
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PAPER-American Solar Energy Society's SOLAR 2003 Conference, June 21-23, 2003, Austin,TX
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MY PAPER-International Solar Energy Society-SOLAR WORLD CONFERENCE 2003-14-19 June 2003,Goteborg, Sweden
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PAPER-European Wind Energy Association-2003 EUROPEAN WIND ENERGY CONFERENCE 16-20 June 2003-Madrid,Spain
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PAPER-National Hydrogen Association's 14th Annual Meeting, March 4-6, 2003, Washington, DC POST CONFERENCE Contact Information
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PAPER, SOLAR 2002, Reno, NV, June 15-20, 2002 POST CONFERENCE Contact Information
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MY PAPER, Global Windpower 2002 Conference, Paris, France, April 2-5, 2002 POST CONFERENCE Contact Information
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My Paper, RIO '02 CONFERENCE--ENERGY POLICIES AND TECHNOLOGIES FOR A SUSTAINABLE FUTURE January, 2002 RIO de JANEIRO, BRAZIL--POST Conference Contact Information
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My Picture Gallery-I
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RENEWABLE ENERGY INVESTMENT OPPORTUNITES
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Renewable Energy Investment Opportunities
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SPECIALIZATIONS
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Buying Electricity and Natural Gas in Illinois' Competitive Energy Market
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Large (=> 1 MW) Wind Projects
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Small Wind (< 1 MW) Projects
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The Kyoto Protocol and Emissions Trading
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Solar Thermal Projects
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PV (Photovoltaic) Projects
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Hybrid, Electric, Hydrogen and Alternative Fuel Vehicles
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Microturbines & Distributed Generation Projects
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PUBLISHED PAPERS & PRESENTATIONS
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Abstracts of My Published Papers and Presentations
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Complimentary Copy of my Article in the June, 2002 Issue of the Northern Solar SUN
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FREQUENTLY ASKED QUESTIONS
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Frequently Asked Questions
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Sitemap
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MY PAPER-International Solar Energy Society-SOLAR WORLD CONFERENCE 2003-14-19 June 2003,Goteborg, Sweden
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Michael Stavy
Consulting Energy Economist
312.832.1631
432 North Clark Street
Suite 204
Chicago, Illinois USA 60610
michaelstavy@covad.net
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I presented my paper; A Financial Worksheet For Computing the Levelized Cost of Wind Electricity (US$/MWh, SEK/MWh, €/MWh) Stored in a Hydrogen Storage System, at the International Solar Energy Society’s SOLAR WORLD CONFERENCE 2003, 14-19 June 2003 in G öteborg, Sweden.CONSULTATIONS IN CHICAGO If you did not have not have time to meet with me in Göteborg, Sweden or if you did not attend the Solar World Conference 2003, you can arrange an appointment at my office in Chicago. Chicago has great hotels and restaurants. It is convenient to fly to Chicago from all over the planet. I am a fee based consulting energy economist in private practice. --------------------------------------------------------------------------------------------------------------------------------------------A FINANCIAL WORKSHEET FOR COMPUTING THE LEVELIZED COST OF WIND ELECTRICITY (US$/MWh, SEK/MWh, €/MWh) STORED IN A HYDROGEN STORAGE SYSTEM M N Stavy
Consulting Energy Economist, Principal, Chicago, United States Wind is an intermittent source of electricity. If, in the future, wind electricity could be economically stored, it would increase the market value of the wind electricity. This increase in the value of wind energy could be realized in: Capacity payments. No out of balance payments for the transmission of wind electricity. Extra revenue earned by selling the wind electricity at the premium price in a time of day pricing tariff.
In the electric energy storage cycle, a Hydrogen Storage System (HSS) must first use the wind electricity to produce hydrogen in order to charge (fill) the hydrogen storage facility, second, store the hydrogen until the energy is needed and third, discharge (empty the hydrogen from the storage facility) and convert it back into electricity for sale to the grid. This paper presents a worksheet that computes the levelized cost of stored wind energy (US$/MWh, SEK/MWh, €/MWh). The worksheet compares the stored wind electricity cost with the time of day premium price. This paper discusses the technical, financial and economic principles underlying the levelized cost method of computing the cost of wind electricity stored in a HSS. Topics include the electric energy storage cycle (charging, storage, discharge), hydrogen storage verse pumped storage (and verse other future electric storage technologies), the levelized cost method, storage cycle efficiency, depreciation, cost of capital, fixed and variable operating and maintenance costs. The paper includes the worksheet, "Levelized Cost of Wind Electricity Stored in a 1 MW Hydrogen Storage System". Benchmark values are for a US (Chicago, IL) and a Swedish model plant. US$ Results: $68.32/MWh stored levelized cost with Benchmark values; 365 storage cycles per yr, 8 hrs discharge per cycle, 75% efficiency, $35/MWh wind electricity cost, $59,700/MWh HSS cost, 10.0% interest, 25 yr physical life, 1% of HSS capital cost fixed OM cost, $2.00/MWh variable OM cost. revised: 11 March 2003
21 October 2004
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