Main Trends and Criteria Adopted in Economic Feasibility Studies of Offshore Wind Energy: A Systematic Literature Review

Arthur Leandro Guerra Pires, Paulo Rotella Junior, Sandra Naomi Morioka, Luiz Célio Souza Rocha and Ivan Bolis
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Arthur Leandro Guerra Pires: Post-Graduate Program in Production Engineering and Systems, Federal University of Paraiba, João Pessoa 58051-900, Brazil
Sandra Naomi Morioka: Department of Production Engineering, Federal University of Paraiba, João Pessoa 58051-900, Brazil
Luiz Célio Souza Rocha: Management Department, Federal Institute of Education, Science and Technology—North of Minas Gerais, Almenara 39900-000, Brazil
Ivan Bolis: Department of Psychology, Federal University of Paraiba, João Pessoa 58051-900, Brazil

Energies, 2021, vol. 15, issue 1, 1-24

Abstract: Offshore wind energy has been identified as one of the most promising and increasingly attractive sources of energy. This technology offers a long-term power-generation source, less environmental impact, and fewer physical restrictions. However, given the complexity of this technology, economic feasibility studies are essential. Thus, this study aims to identify the main trends and criteria or the methods used in the economic feasibility studies of offshore wind energy, providing a review of the state of the art in this literature. For this, a Systematic Literature Review was carried out. The article shows the growing interest in offshore wind power generation and highlights how recently the interest in the studies that assess the technical–economic feasibility of this source has grown; it presents the main milestones of the topic. Based on a structured literature review, this article identifies the main trends in this topic: ( i ) wind farms, ( ii ) risk, ( iii ) floating offshore wind farms, ( iv ) decommissioning and repowering, ( v ) net present value, ( vi ) life cycle cost, and ( vii ) multi-criteria decision-making; it provides a broad view of the methodological possibilities and specificities for investors and researchers interested in conducting studies on the economic feasibility of offshore wind generation. In addition, finally, a research agenda is proposed.

Keywords: offshore wind power; investment; decommissioning and repowering; economic viability; financial assessment (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (6)

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