Wind Turbines Site Selection and Techno-Economic Analysis of Renewable Energy Integrated with Grid Stability Using Statistical Models

Abstract

This study analyzed the importance of wind turbines farm site selection to ensure the successful and sustainable implementation of wind energy projects. For proper site selection, factors including wind potential, topographical structure, environmental sensitivity, and legal impacts were carefully evaluated to ensure maximum performance and minimal environmental impact. Sophisticated statistical, stochastics differential equations (SDE) and economic models were utilized to optimized renewable energy integration in to the grid, develop models that predict energy output, provides grid stability, and economic impacts. By leveraging wind speed Weibull distribution and average power output data of 100 units wind turbines with 10 kW capacity each, the efficacy of these models and their potential to transform energy systems toward sustainability were demonstrated. Results showed that 95% of grid distribution stability using 70% as threshold, while 5% indicated potential instability. Energy prediction for years 2026 and 2027 ranges between 549 and 668.70 MWh with average energy of 611.754 MWh, and 614.75 MWh. The net present value (NPV) of the project value using discounted rate of 4-7% over 10, 15, and 20-years periods varies from $403,497,042.12 to $ 298,761,567.06; 15 years $647,373,180.32 and $468,139,101.46; and 20-years $803,031,935.24 to $562,079,265.49 respectively, depending on the discount rate. The project is considered profitable at all discount rates evaluated under the sensitivity analysis of 4 –7%, yielded a positive investment return during the whole duration of the projects, allowing for a 5% discount on infrastructure and a 7% year-on-year inflation.