Mechanical & Industrial Engrg 697WF - ST-Wind Energy Finan,Econ,Pol
Spring
2021
01
3.00
James Manwell
1:00AM 1:00AM
UMass Amherst
84607
Fully Remote Class
manwell@ecs.umass.edu
This is an in-depth multidisciplinary course intended for students with a business, managerial, or natural science background wishing to pursue a non-technical approach to wind energy. It assumes some basic knowledge of STEM Disciplines. It will educate students in advanced wind turbine performance and investment; institutional, legal, and environmental issues; and wind energy development and construction. Additionally, students will be informed about business, financial, legal, regulatory, and project development aspects of the industry.
The purpose of this course is to develop an understanding of the economic principles affecting wind project development from greenfield to decommissioning or repower. The course begins with an overview of basic financial and economic topics related to commercial-scale wind energy projects. Students will learn to complete and analyze a pro-forma invoice for a project. Students will learn the main financial agreements and their structuring for wind projects. Student will learn about risk assessment for projects and how insurance companies underwrite projects to secure financing. Students will learn about the trend toward decommissioning finance structures now being required in new and repower projects and how to address those extra costs. Students then dive into energy policy and how it has evolved through a look at FERC and PURPA. Students will learn about the PTC and ITC, both historically and contemporaneously, and how subsidies have evolved in the industry. Students will learn the basics of energy markets and how electricity is bought and sold. Finally, students will learn about the nexus of climate change and energy policy and eventually a discussion of offshore wind in the U.S. and the economics of a new branch of the wind industry.
The purpose of this course is to develop an understanding of the economic principles affecting wind project development from greenfield to decommissioning or repower. The course begins with an overview of basic financial and economic topics related to commercial-scale wind energy projects. Students will learn to complete and analyze a pro-forma invoice for a project. Students will learn the main financial agreements and their structuring for wind projects. Student will learn about risk assessment for projects and how insurance companies underwrite projects to secure financing. Students will learn about the trend toward decommissioning finance structures now being required in new and repower projects and how to address those extra costs. Students then dive into energy policy and how it has evolved through a look at FERC and PURPA. Students will learn about the PTC and ITC, both historically and contemporaneously, and how subsidies have evolved in the industry. Students will learn the basics of energy markets and how electricity is bought and sold. Finally, students will learn about the nexus of climate change and energy policy and eventually a discussion of offshore wind in the U.S. and the economics of a new branch of the wind industry.
This course is taught on-line in collaboration with Texas Tech University through the WindU collaborative partnership. The primary course instructor Kassandra McQuillen, who is based at Texas Tech. Contact Prof. Manwell, manwell@ecs.umass.edu for details.
Note! This course begins on January 20 and ends on May 11.
This document summarizes graduate courses in the field of wind energy that are offered on-line in the spring of 2021. The courses include: i) MIE 673 Wind Turbine Design, ii) MIE 697AW Advanced Wind Power Conversion (electrical aspects), iii) MIE 697LL Special Topics/Advanced Technical Wind Energy 2 (technical), iv) MIE 697WF Wind Energy Finance, Economics and Policy. Details are provided below.
The four courses described here are offered as part of the WindU consortium (see https://nau.edu/mechanical-engineering/wind-u/) Graduate students already enrolled in one of the consortium universities (UMass Amherst, Texas Tech University, and Northern Arizona University) may register directly at their home university. Other interest participants (including those already working in related fields) may enroll in the classes as non-degree graduate students at one of the partner universities. For information about enrolling as a non-degree graduate student at UMass Amherst, see https://www.umass.edu/graduate/apply/non-degree-students.
In addition to the WindU courses described herein, prospective students may be interested in the professional offshore wind energy certificate program, which is also available at UMass Amherst. The certificate involves three courses taken through the University Without Walls program. These courses include: i) ECO 610: Offshore Wind Energy ? Technology, Resources, Grid Integration, and Trends, ii) ECO 611: Offshore Wind Energy - Environmental Impacts, Siting, Permitting, and Stakeholder Engagement, ECO 612: Offshore Wind Energy ? Project Economics, Deployment, and Business Logistics. This certificate program is geared toward any professional engaging in the offshore wind industry, as well as graduate students in related fields. More information may be found at https://ag.umass.edu/clean-energy/offshore-wind-professional-certificate
Note! This course begins on January 20 and ends on May 11.
This document summarizes graduate courses in the field of wind energy that are offered on-line in the spring of 2021. The courses include: i) MIE 673 Wind Turbine Design, ii) MIE 697AW Advanced Wind Power Conversion (electrical aspects), iii) MIE 697LL Special Topics/Advanced Technical Wind Energy 2 (technical), iv) MIE 697WF Wind Energy Finance, Economics and Policy. Details are provided below.
The four courses described here are offered as part of the WindU consortium (see https://nau.edu/mechanical-engineering/wind-u/) Graduate students already enrolled in one of the consortium universities (UMass Amherst, Texas Tech University, and Northern Arizona University) may register directly at their home university. Other interest participants (including those already working in related fields) may enroll in the classes as non-degree graduate students at one of the partner universities. For information about enrolling as a non-degree graduate student at UMass Amherst, see https://www.umass.edu/graduate/apply/non-degree-students.
In addition to the WindU courses described herein, prospective students may be interested in the professional offshore wind energy certificate program, which is also available at UMass Amherst. The certificate involves three courses taken through the University Without Walls program. These courses include: i) ECO 610: Offshore Wind Energy ? Technology, Resources, Grid Integration, and Trends, ii) ECO 611: Offshore Wind Energy - Environmental Impacts, Siting, Permitting, and Stakeholder Engagement, ECO 612: Offshore Wind Energy ? Project Economics, Deployment, and Business Logistics. This certificate program is geared toward any professional engaging in the offshore wind industry, as well as graduate students in related fields. More information may be found at https://ag.umass.edu/clean-energy/offshore-wind-professional-certificate