Abstract
Abstract In the last decade the European Union (EU) has been steadily increasing its’ ambition regarding the climate policy. Considering the linkage between the climate targets and energy sector’s greenhouse gas emissions, the EU’s member states are respectively adjusting their energy policies. One of the current trends in the EU is to increase the renewable electricity generation by roll-out of onshore and offshore wind parks. This research aims at evaluating the potential of large-scale wind parks in Latvia by using the cost-benefit and multi-criteria analysis from financial, technical, climate and administrative perspectives as well as considering the impact on security of energy supply. The results of the research show a good potential for onshore wind park development in Latvia without any state aid, while offshore wind parks are in a much worse position and would not be beneficial for the project promoters without any kind of EU or state aid.
Highlights
As has been stated by the European Union (EU)’s statistical office Eurostat, all the EU’s member states in 2019 generated 3.8 billion tonnes of carbon dioxide (CO2) equivalents, which is the most emitted greenhouse gas (GHG) in the EU [1]
The rest of the costs on average comprise around 649 000 EUR/MW [29], so the additional costs are higher than the wind turbine costs
While cost benefit analysis on its own serves as a tool to understand if any of the wind park case study scenarios are feasible from financial and other perspectives, the multi criteria analysis provide a comparison between the two suggested case study projects
Summary
As has been stated by the EU’s statistical office Eurostat, all the EU’s member states in 2019 generated 3.8 billion tonnes of carbon dioxide (CO2) equivalents, which is the most emitted greenhouse gas (GHG) in the EU [1]. The EU’s ambition towards climate neutrality is a major driving force for the EU’s member states to adjust their energy policies and provide other means of electricity production. Considering both the costs and the necessity to ensure security of energy supply, the transition from fossil fuels to renewable energy sources is neither easy nor quick. The EU’s member states have different approaches to moving towards increased usage of renewable energy, one of the major common trends is to stimulate the development of wind energy – onshore as well as offshore for the member states which have access to the sea
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