Economic analysis of fractional frequency transmission system for offshore wind farm based on levelized cost of electricity

Abstract

In the context of large-scale and medium-and-long distance offshore wind power development， a comprehensive economic comparison has been made between fractional frequency transmission system （FFTS） and other transmission systems. An economic evaluation model based on the levelized cost of electricity （LCOE） for the FFTS system. This model takes into account the lifecycle， initial resource investment， operational losses， routine maintenance， decommissioning costs， and tax liabilities. By using an offshore wind farm as a case study， the paper analyzes the economic intervals of the FFTS and economic variability under various scenarios. The findings reveal that， for a 500 MW offshore wind farm， the economic interval extends from 80 to 250 kilometers； moreover， this range exhibits a notable degree of stability and demonstrates superior economic viability in contrast to traditional transmission systems across multiple scenarios.

Keywords

• offshore wind power
• ffts
• lcoe
• life cycle
• economic interval