Operations Research, Systems Engineering and Industrial Engineering Commons^™

Forecasting The Cost Of Electricity Generated By Offshore Wind Turbines, Timothy Costa

Masters Theses

To impede the progress of climate change, many policy makers are considering avenues to decarbonize electricity production. In addition to decarbonization, policy makers must consider how the cost of electricity will impact various stakeholders, balancing cost and social benefits. Offshore wind farms have the potential to produce affordable, carbon-free electricity, but they are a relatively new technology. The relative juvenescence of offshore wind lends itself to an uncertain future, regarding production costs. In this thesis, we seek to understand cost drivers behind offshore wind electricity by analyzing historic trends in offshore wind levelized cost of electricity (LCOE) through learning curves, …