The economic potential value of offshore wind near Berlengas

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

Abstract

Offshore wind energy is currently too expensive to compete with alternative energy sources, such as fossil fuels. However, taking into account both decreasing capital costs in real prices over time, positive externalities of offshore wind energy production, as well as factors at local level which influence the viability of the investment, the value of offshore wind from a social perspective might be positive in the medium-run, even if the private profits remain negative. We develop a dynamic model to assess the economic potential value of installing wind turbines in two locations near the Berlengas archipelago, which are found to have fewer spatial conflicting uses. Our results indicate that offshore wind energy is viable at these locations, despite representing a loss for the private investor, if the energy mix which is displaced by offshore wind includes coal-based electricity.

Original languageEnglish
Title of host publicationProgress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016
PublisherCRC Press/Balkema
Pages851-858
Number of pages8
ISBN (Electronic)978-1-351-85853-3
ISBN (Print)9781138626270
DOIs
Publication statusPublished - 2016
Event2nd International Conference on Renewable Energies Offshore, RENEW 2016 - Lisbon, Portugal
Duration: 24 Oct 201626 Oct 2016

Conference

Conference2nd International Conference on Renewable Energies Offshore, RENEW 2016
CountryPortugal
CityLisbon
Period24/10/1626/10/16

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  • Cite this

    Lopes, A. F. (2016). The economic potential value of offshore wind near Berlengas. In Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016 (pp. 851-858). CRC Press/Balkema. https://doi.org/10.1201/9781315229256-100