Wind Energy Cost Analysis : CoE for offshore Wind and LCOE financial modeling

Abstract

The thesis mainly discusses the cost level of offshore wind energy. As one of the most vital renewable energy resource, offshore wind energy has developed gradually worldwide. Nevertheless, relative high cost is considered as a major barrier for offshore wind industry development. This thesis introduces the cost component for offshore wind energy, ana-lyzed the cost level and relative influence factor for different markets. Furthermore, in order to better understanding levelized cost of wind energy, a LCOE financial modeling was de-veloped. By using two reference offshore wind projects, computational principle of financial modeling was interpreted, and LCOE calculation process was demonstrated as well.