Imperial College London
Alternate

DrIainStaffell

Faculty of Natural Sciences, Centre for Environmental Policy

Senior Lecturer in Sustainable Energy
 
 
 
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Contact

 

+44 (0)20 7594 9570i.staffell

 
 
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Location

 

202Weeks BuildingSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Jansen:2022:10.1016/j.enpol.2022.113000,
author = {Jansen, M and Beiter, P and Riepin, I and Musgens, F and Guajardo-Fajardo, VJ and Staffell, I and Bulder, B and Kitzing, L},
doi = {10.1016/j.enpol.2022.113000},
journal = {Energy Policy},
pages = {1--17},
title = {Policy choices and outcomes for offshore wind auctions globally},
url = {http://dx.doi.org/10.1016/j.enpol.2022.113000},
volume = {167},
year = {2022}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - Offshore wind energy is rapidly expanding, facilitated largely through auctions run by governments. We provide a detailed quantified overview of utilised auction schemes, including geographical spread, volumes, results, and design specifications. Our comprehensive global dataset reveals heterogeneous designs. Although most auction designs provide some form of revenue stabilisation, their specific instrument choices vary and include feed-in tariffs, one-sided and two-sided contracts for difference, mandated power purchase agreements, and mandated renewable energy certificates.We review the schemes used in all eight major offshore wind jurisdictions across Europe, Asia, and North America and evaluate bids in their jurisdictional context. We analyse cost competitiveness, likelihood of timely construction, occurrence of strategic bidding, and identify jurisdictional aspects that might have influenced auction results. We find that auctions are embedded within their respective regulatory and market design context, and are remarkably diverse, though with regional similarities. Auctions in each jurisdiction have evolved and tend to become more exposed to market price risks over time. Less mature markets are more prone to make use of lower-risk designs. Still, some form of revenue stabilisation is employed for all auctioned offshore wind energy farms analysed here, regardless of the specific policy choices. Our data confirm a coincidence of declining costs and growing diffusion of auction regimes.
AU  - Jansen,M
AU  - Beiter,P
AU  - Riepin,I
AU  - Musgens,F
AU  - Guajardo-Fajardo,VJ
AU  - Staffell,I
AU  - Bulder,B
AU  - Kitzing,L
DO  - 10.1016/j.enpol.2022.113000
EP  - 17
PY  - 2022///
SN  - 0301-4215
SP  - 1
TI  - Policy choices and outcomes for offshore wind auctions globally
T2  - Energy Policy
UR  - http://dx.doi.org/10.1016/j.enpol.2022.113000
UR  - https://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000807108500006&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=a2bf6146997ec60c407a63945d4e92bb
UR  - https://www.sciencedirect.com/science/article/pii/S0301421522002257
UR  - http://hdl.handle.net/10044/1/102220
VL  - 167
ER  -
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