Sensitivity analysis of cost parameters for floating offshore wind farms: an application to Italian waters

Abstract

Floating offshore wind farms represent the next frontier in wind power industry. However, the development of this technology is strongly dependent on its economic feasibility. There follows that the development of economic analyses is crucial to highlight the possible greater potential of floating offshore wind farms and to support their sustainability and technical value. In this context, the purpose of this paper is to present a sensitivity analysis of the main cost parameters for floating offshore wind farms, namely the distance from the coast, the distance from the closest port and the sea depth. It can give specific information on which parameters are more important, and how much they affect the total cost. To this aim, a comprehensive life cycle cost assessment of floating offshore wind farms has been developed. In this study the cost model has been applied to the Italian waters. The results shown should provide guidance on how to preliminary assess the quality of a given site for floating offshore wind farm installation, and should be helpful for future development of decision-making procedures in the offshore wind sector.