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Market forecasts, feasibility studies and regulatory framework for offshore wind energy integration

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5 Author(s)
Madariaga, A. ; Eng. Fac. of Bilbao, Univ. of the Basque Country, Bilbao, Spain ; de Alegria, I.M. ; Martin, J.L. ; Eguia, P.
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This paper gives an overview of several aspects of Offshore Wind Power (OWP) integration. During last year the wind market has exceed forecasts despite of the global crisis, with the offshore market offering very good numbers. Moreover, some projections presented in the paper show that OWP installed during the next five years will probably overcome European Wind Energy Association (EWEA)'s forecasts. Logically, investors of OWP projects demand accurate viability plans, which in turn ask for rigorous cost analysis and revenue forecasts considering the whole life cycle of the installation. However, the electricity price in an open market is expected to show certain volatility in the presence of large amount of Renewable Energy Supplies for Electricity (RESE), which makes governmental supporting schemes essential. The European Commission (EC) has established a new regulatory framework called to play a key role in promoting and sustaining RESE and Member States have specified those support schemes in their National Renewable Energy Action Plans (NREAPs).

Published in:

IECON 2011 - 37th Annual Conference on IEEE Industrial Electronics Society

Date of Conference:

7-10 Nov. 2011