An Information System for Multiple Criteria Assessment of Renewable Energy Power Plants

Abstract

An information system, built-up from a database and a multiple criteria decision support system, was developed to collect, process, store, assess and disseminate information on renewable energy power stations in Greece. This system is used to support decision-making, control, analysis and visualization regarding the existent installations, and the middle term forecasting of similar ones. The results show that, at national level, the wind and solar photovoltaic power stations, except the solar systems of private producers, are acceptable investments. The low national level of the capacity factor, 18 % for wind and 11% for photovoltaic power stations, is one of the reasons for their low productivity. The study relates to the prices paid for renewables electricity in Greece. The cost of the electric energy generated, and also the total cost of all wind and solar power stations, are high as compared to those of conventional fuels based systems. The wind power systems have acceptable return of investment (9%/y), internal rate of return (20%/y) and payback period (6-11 y). The solar stations have low internal rate of return (<9%/y) and return of investment (0.57%/y) and long-term payback period (22-35 y). Although the renewables are attractive investments with acceptable nationwide levels of financial indexes, they present high variations from one power station to another. Most wind and solar power plants must increase their competitiveness, and some must revise their feasibility criteria and design of installations. Thus, units with higher profits must be developed to an optimal installed rated power, while others must be reconsidered.