Economic feasibility evaluation of wind generation using fuzzy mathematics

Authors:
J. N. Sheen
Affiliations:
Department of Electrical Engineering, Cheng-Shiu University, Niaosung Township, Kaohsiung County, Taiwan
Venue:
IMCAS'09 Proceedings of the 8th WSEAS international conference on Instrumentation, measurement, circuits and systems
Year:
2009

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Abstract

This paper derives a fuzzy engineering economic decision model, namely cost-benefit analysis model, to evaluate the fuzzy feasibility of wind generation investment. The performance of the proposed fuzzy economic model is verified by considering their application to a practical wind generation project in Taiwan. These investigations not only confirm that the results of the fuzzy economic model is consistent with the conventional crisp model, but also demonstrate that the proposed model is more flexible, intelligent and computationally efficient compared to the extension principle fuzzy mathematics approach. The developed model represent readily implemented feasibility analysis tool for use in the arena of uncertain economic decision-making.