The economics of offshore wind

Richard Green; Nicholas Vasilakos

doi:10.1016/j.enpol.2010.10.011

The economics of offshore wind

Richard Green, Nicholas Vasilakos

Economics

Research output: Contribution to journal › Article

116 Citations (Scopus)

Abstract

This paper presents an overview of the main issues associated with the economics of offshore wind. Investment in offshore wind systems has been growing rapidly throughout Europe, and the technology will be essential in meeting EU targets for renewable energy in 2020. Offshore wind suffers from high installation and connection costs, however, making government support essential. We review various support policies used in Europe, concluding that tender-based feed-in tariff schemes, as used in Denmark, may be best for providing adequate support while minimising developers' rents. It may prove economic to build an international offshore grid connecting wind farms belonging to different countries that are sited close to each other. (C) 2010 Elsevier Ltd. All rights reserved.

Original language	English
Pages (from-to)	496-502
Number of pages	7
Journal	Energy Policy
Volume	39
Issue number	2
DOIs	https://doi.org/10.1016/j.enpol.2010.10.011
Publication status	Published - 1 Feb 2011

Keywords

Cost analysis
Offshore wind power
Market trends

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1016/j.enpol.2010.10.011

Cite this

@article{bc9ed473aab24dadbea84bb3f33912b8,

title = "The economics of offshore wind",

abstract = "This paper presents an overview of the main issues associated with the economics of offshore wind. Investment in offshore wind systems has been growing rapidly throughout Europe, and the technology will be essential in meeting EU targets for renewable energy in 2020. Offshore wind suffers from high installation and connection costs, however, making government support essential. We review various support policies used in Europe, concluding that tender-based feed-in tariff schemes, as used in Denmark, may be best for providing adequate support while minimising developers' rents. It may prove economic to build an international offshore grid connecting wind farms belonging to different countries that are sited close to each other. (C) 2010 Elsevier Ltd. All rights reserved.",

keywords = "Cost analysis, Offshore wind power, Market trends",

author = "Richard Green and Nicholas Vasilakos",

year = "2011",

month = feb,

day = "1",

doi = "10.1016/j.enpol.2010.10.011",

language = "English",

volume = "39",

pages = "496--502",

journal = "Energy Policy",

publisher = "Elsevier",

number = "2",

}

TY - JOUR

T1 - The economics of offshore wind

AU - Green, Richard

AU - Vasilakos, Nicholas

PY - 2011/2/1

Y1 - 2011/2/1

N2 - This paper presents an overview of the main issues associated with the economics of offshore wind. Investment in offshore wind systems has been growing rapidly throughout Europe, and the technology will be essential in meeting EU targets for renewable energy in 2020. Offshore wind suffers from high installation and connection costs, however, making government support essential. We review various support policies used in Europe, concluding that tender-based feed-in tariff schemes, as used in Denmark, may be best for providing adequate support while minimising developers' rents. It may prove economic to build an international offshore grid connecting wind farms belonging to different countries that are sited close to each other. (C) 2010 Elsevier Ltd. All rights reserved.

AB - This paper presents an overview of the main issues associated with the economics of offshore wind. Investment in offshore wind systems has been growing rapidly throughout Europe, and the technology will be essential in meeting EU targets for renewable energy in 2020. Offshore wind suffers from high installation and connection costs, however, making government support essential. We review various support policies used in Europe, concluding that tender-based feed-in tariff schemes, as used in Denmark, may be best for providing adequate support while minimising developers' rents. It may prove economic to build an international offshore grid connecting wind farms belonging to different countries that are sited close to each other. (C) 2010 Elsevier Ltd. All rights reserved.

KW - Cost analysis

KW - Offshore wind power

KW - Market trends

U2 - 10.1016/j.enpol.2010.10.011

DO - 10.1016/j.enpol.2010.10.011

M3 - Article

VL - 39

SP - 496

EP - 502

JO - Energy Policy

JF - Energy Policy

IS - 2

ER -

The economics of offshore wind

Abstract

Keywords

UN SDGs

Access to Document

Fingerprint

Cite this