Community Wind Handbook/Conduct a Feasibility Study

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WIND ENERGY STAKEHOLDER ENGAGEMENT & OUTREACHCommunity Wind Handbook

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Community Wind Handbook


Conduct a Feasibility Study

A project feasibility study that includes a fatal-flaw analysis should be conducted during the project’s preliminary development stage. Fatal flaws must be identified and analyzed in a timely manner to avoid investing capital into projects that are not viable.[1] Whether performed by you or a third party, this study will also help you to better understand current market dynamics pertaining to your project and contribute to the development of a comprehensive business plan.

Four 1.8 MB VEstas V80s owned by American Municipal Power-Ohio in Bowling Green, Ohio.. Photo from Ohio Office of Energy Efficiency, NREL 14070.

A feasibility study typically includes:

  • Project description
  • Project goals
  • Current and future market potential
  • Wind resource assessment
  • Realistic permitting process overview
  • Equipment procurement plan
  • Installation plan (construction and operation support/labor)
  • Project details (technical characteristics and specifications)
  • Development plan and schedule
  • Investment requirements and schedule
  • Power marketing plan and revenue schedule
  • Projected cost of operation and net revenue
  • Economic feasibility study
  • Financing plan
  • Appendices and notes
  • Project management requirements.[2][3]

References

  1.  "National Renewable Energy Laboratory. A Framework for Project Development in the Renewable Energy Sector"
  2.  "Rural Minnesota Energy Board. Community Wind Development Handbook"
  3.  "Renewable Energy Alaska Project. Community Wind Toolkit: A Guide to Developing Wind Energy Projects in Alaska"