{"title":"Is Zero Subsidy in Fixed-Bottom Offshore Wind Farms Feasible? The Case of Incheon, South Korea","authors":"Jongmin Lee, G. Xydis","doi":"10.3390/wind2020012","DOIUrl":null,"url":null,"abstract":"It has been stated that by 2030, South Korea will have increased their capacity for wind power from 124 MW to 12 GW. According to official statements, offshore wind turbines will provide most of this wind energy. In order to determine the costs for an offshore wind energy production site, an economic analysis was performed in Incheon, South Korea, and the levelized cost of energy (LCoE) value was calculated at 129.97 USD per MWh, and the net present value and the internal rate of return were also calculated. Various scenarios were tested, and it was proven that minimum or no governmental support can lead to economically problematic projects. Is zero subsidy the future of the offshore wind industry?","PeriodicalId":51210,"journal":{"name":"Wind and Structures","volume":null,"pages":null},"PeriodicalIF":1.3000,"publicationDate":"2022-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"4","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Wind and Structures","FirstCategoryId":"5","ListUrlMain":"https://doi.org/10.3390/wind2020012","RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"CONSTRUCTION & BUILDING TECHNOLOGY","Score":null,"Total":0}
引用次数: 4
Abstract
It has been stated that by 2030, South Korea will have increased their capacity for wind power from 124 MW to 12 GW. According to official statements, offshore wind turbines will provide most of this wind energy. In order to determine the costs for an offshore wind energy production site, an economic analysis was performed in Incheon, South Korea, and the levelized cost of energy (LCoE) value was calculated at 129.97 USD per MWh, and the net present value and the internal rate of return were also calculated. Various scenarios were tested, and it was proven that minimum or no governmental support can lead to economically problematic projects. Is zero subsidy the future of the offshore wind industry?
期刊介绍：
The WIND AND STRUCTURES, An International Journal, aims at: - Major publication channel for research in the general area of wind and structural engineering, - Wider distribution at more affordable subscription rates; - Faster reviewing and publication for manuscripts submitted.
The main theme of the Journal is the wind effects on structures. Areas covered by the journal include:
Wind loads and structural response,
Bluff-body aerodynamics,
Computational method,
Wind tunnel modeling,
Local wind environment,
Codes and regulations,
Wind effects on large scale structures.
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