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

Author

Listed:
  • Arthur Leandro Guerra Pires

    (Post-Graduate Program in Production Engineering and Systems, Federal University of Paraiba, João Pessoa 58051-900, Brazil)

  • Paulo Rotella Junior

    (Department of Production Engineering, 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)

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.

Suggested Citation

  • Arthur Leandro Guerra Pires & Paulo Rotella Junior & Sandra Naomi Morioka & Luiz Célio Souza Rocha & Ivan Bolis, 2021. "Main Trends and Criteria Adopted in Economic Feasibility Studies of Offshore Wind Energy: A Systematic Literature Review," Energies, MDPI, vol. 15(1), pages 1-24, December.
    • Handle: RePEc:gam:jeners:v:15:y:2021:i:1:p:12-:d:707557
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    Citations

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    Cited by:

    1. Cristina Hora & Florin Ciprian Dan & Dinu-Calin Secui & Horea Nicolae Hora, 2024. "Systematic Literature Review on Pipeline Transport Losses of Hydrogen, Methane, and Their Mixture, Hythane," Energies, MDPI, vol. 17(18), pages 1-23, September.
    2. Anna Kubule & Jānis Kramens & Madara Bimbere & Nerijus Pedišius & Dagnija Blumberga, 2024. "Trends for Stirling Engines in Households: A Systematic Literature Review," Energies, MDPI, vol. 17(2), pages 1-17, January.
    3. Karel Janda & Eva Michalikova & Luiz Célio Souza Rocha & Paulo Rotella Junior & Barbora Schererova & David Zilberman, 2022. "Review of the Impact of Biofuels on U.S. Retail Gasoline Prices," Energies, MDPI, vol. 16(1), pages 1-21, December.
    4. Adalberto Ospino Castro & Carlos Robles-Algarín & Luis Hernández-Callejo & Yecid Muñoz Maldonado & Amanda Mangones Cordero, 2023. "Feasibility Analysis of Offshore Wind Power Projects in the Caribbean Region of Colombia: A Case Study Using FAHP–GIS," Sustainability, MDPI, vol. 15(24), pages 1-19, December.
    5. Anna Manuella Melo Nunes & Luiz Moreira Coelho Junior & Raphael Abrahão & Edvaldo Pereira Santos Júnior & Flávio José Simioni & Paulo Rotella Junior & Luiz Célio Souza Rocha, 2023. "Public Policies for Renewable Energy: A Review of the Perspectives for a Circular Economy," Energies, MDPI, vol. 16(1), pages 1-28, January.

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