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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...
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...
Major modifications to the US Federal taxation laws effectively remove oil and gas depletion allowances for large companies. The likely consequence is discouragement of US domestic exploration, reduced domestic supplies and higher prices. A greater section of US output will be provided by the smaller independent companies. Consumption of oil and gas is likely to fall, resulting in a greater degree of national self-sufficiency in these products. Most Americans will gain as taxpayers what they lose as consumers of higher priced oil and gas; the only long-term losers will be owners of land on which oil and gas is found.
Major modifications to the US Federal taxation laws effectively remove oil and gas depletion allowances for large companies. The likely consequence is discouragement of US domestic exploration, reduced domestic supplies and higher prices. A greater section of US output will be provided by the smaller independent companies. Consumption of oil and gas is likely to fall, resulting in a greater degree of national self-sufficiency in these products. Most Americans will gain as taxpayers what they lose as consumers of higher priced oil and gas; the only long-term losers will be owners of land on which oil and gas is found.
The British offshore windfarm programme presages the emergence of Britain as more of a leader than a laggard in renewables, the latter being the status it has hitherto endured in comparison to countries such as Denmark, Germany and Spain. Britain looks increasingly likely to exceed 20% of electricity being supplied from renewable energy by 2020, provided there continues to be adequate financial incentives for renewable energy. This turnaround is associated with increased British concerns about energy dependence on imported natural gas as well as pressure from EU legislation. However there are many planning pressures that countervail the drive for offshore wind power. British planning policy on offshore wind is distinctive...
Public support for electricity generation from renewable energy sources is commonly funded by non-voluntary transfers from electricity consumers to producers. Apparently, the cost-effective disposition of funds in terms of induced capacity deployment has to be regarded a key criterion for the success of renewable energy policy. Grid connection costs are a major cost component in the utilization of offshore wind energy for electricity generation. In this paper, the effect of different attribution mechanisms of these costs on overall cost-effectiveness from consumers' perspective is analyzed. The major result of this investigation is that an attribution of grid connection costs to grid operators – as against to generators...
Categories: Publication;
Types: Citation;
Tags: Grid connection cost charging,
Offshore wind power,
Public transfer costs
The main objective of this paper is to analyze the role of policy support schemes and planning systems for inducing offshore wind power development in Sweden. Specifically, it highlights the different types of economic, political and planning-related conditions that face offshore wind power investors in Sweden, and provides brief comparisons to the corresponding investment conditions in Denmark, Norway and the UK. The analysis shows that in Sweden existing policy incentives are generally too weak to promote a significant development of offshore wind power, and the paper provides a discussion about a number of political and economic aspects on the choice between different support schemes for offshore wind in the...
The British offshore windfarm programme presages the emergence of Britain as more of a leader than a laggard in renewables, the latter being the status it has hitherto endured in comparison to countries such as Denmark, Germany and Spain. Britain looks increasingly likely to exceed 20% of electricity being supplied from renewable energy by 2020, provided there continues to be adequate financial incentives for renewable energy. This turnaround is associated with increased British concerns about energy dependence on imported natural gas as well as pressure from EU legislation. However there are many planning pressures that countervail the drive for offshore wind power. British planning policy on offshore wind is distinctive...
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