The economic potential value of offshore wind in the north of Portugal

Research output: Chapter in Book/Report/Conference proceedingConference contribution

2 Citations (Scopus)

Abstract

Offshore wind energy is currently too expensive to compete with alternative energy sources. However, many floating offshore wind technologies, such as the demonstration project of Windfloat near Aguçadora (Portugal), are being developed for three reasons: there are positive externalities associated with its deployment, capital costs in real prices are expected to decrease over time, and some offshore locations have favourable natural conditions for its deployment. Taking these three factors into account, we develop a dynamic model to assess the economic potential value of offshore wind energy at the Viana do Castelo study site located in the northwestern coast of Portugal. Our results indicate that, from a social perspective, an investment starting in a few decades in the Windfloat technology at Viana do Castelo has positive economic potential value. Therefore support schemes to promote its deployment may be fostered.

Original languageEnglish
Title of host publication2016 13th International Conference on the European Energy Market, EEM 2016
PublisherIEEE Computer Society
Volume2016-July
ISBN (Electronic)9781509012978
DOIs
Publication statusPublished - 25 Jul 2016
Event13th International Conference on the European Energy Market, EEM 2016 - Porto, Portugal
Duration: 6 Jun 20169 Jun 2016

Conference

Conference13th International Conference on the European Energy Market, EEM 2016
CountryPortugal
CityPorto
Period6/06/169/06/16

Keywords

  • Environmental economics
  • Offshore installations
  • Power generation economics
  • Wind Energy

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  • Cite this

    Lopes, A. F. (2016). The economic potential value of offshore wind in the north of Portugal. In 2016 13th International Conference on the European Energy Market, EEM 2016 (Vol. 2016-July). [7521260] IEEE Computer Society. https://doi.org/10.1109/EEM.2016.7521260