mdh.sePublications
Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Economic Modelling of Floating Offshore Wind Power: Calculation of Levelized Cost of Energy
Mälardalen University, School of Business, Society and Engineering, Industrial Economics and Organisation.
2017 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

Floating offshore wind power is a relatively new technology that enables wind turbines to float above the sea level, tied by anchors at the seabed. The purpose of this work is to develop an economic model for the technology in order to calculate the total cost of a planned wind farm. Cost data are retrieved from reports and academic journals available online. Based on these data, a model in Microsoft Excel is developed which calculates the Levelized cost of energy (LCOE) for floating wind power plants as a function of several input values. As an addition to this model, financing offshore projects are described using literature study and by doing interviews with three major companies, currently investing in offshore wind. As a result, the model allows the user to calculate Capital expenditures, Operating expenditures and LCOE for projects at any given size and at any given site. The current LCOE for a large floating offshore wind farm is indicated to be in the range of 138-147 £/MWh. The outline from interviews was that today there is no shortage of capital for funding wind projects. However, in order to attract capital, the governmental regulatory of that market has to be suitable since it has a crucial impact on price risks of a project.

Place, publisher, year, edition, pages
2017. , p. 82
Keywords [en]
Floating offshore wind, Levelized cost of energy, Financing, Cost structure, Funding structure, Weighted average capital cost, Capital expenditure, Economic model, Operating expenditure, funding, OPEX, CAPEX, LCOE, energy system, renewable energy, electricity
National Category
Energy Systems
Identifiers
URN: urn:nbn:se:mdh:diva-36130OAI: oai:DiVA.org:mdh-36130DiVA, id: diva2:1128321
External cooperation
Flowocean AB
Subject / course
Teknik med teknikdidaktik
Supervisors
Examiners
Available from: 2017-08-10 Created: 2017-07-24 Last updated: 2017-08-10Bibliographically approved

Open Access in DiVA

Economic Modelling of Floating Offshore Wind(1669 kB)570 downloads
File information
File name FULLTEXT01.pdfFile size 1669 kBChecksum SHA-512
a30b09901d747742b8878613271e2aae89ac1bfb5d99daaee8f5bd9ef4b592fc90767bfb4d06d9dd8223e28fb1fa43288f36099b8b5f7213a82369317f8b1ad4
Type fulltextMimetype application/pdf

By organisation
Industrial Economics and Organisation
Energy Systems

Search outside of DiVA

GoogleGoogle Scholar
Total: 570 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

urn-nbn

Altmetric score

urn-nbn
Total: 853 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf