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Offshore wind farms are great options for addressing the world's energy and climate change challenges, as well as meeting rising energy demand while taking environmental and economic impacts into account. Floating wind turbines, in specific, depict the next horizon in the sustainable renewable energy industry. In this study, a life-cycle cost analysis for floating offshore wind turbines is developed by combining the most recent data and parametric formulas from databases and relevant papers. The cost analysis models focused on cost minimization with special emphasis on Operation and Maintenance Cost (OPEX), Decommissioning Cost (DECOM), and Levelized Cost of Energy (LCOE), which are important factors in wind power economy. Given that floating wind energy is still developing, the presented scenarios should be beneficial in making future decisions. The cost analysis scenarios include on-site and off-site maintenance scenarios for OPEX. In addition, four alternative scenarios for DECOM have been examined: mechanical recycling, mechanical-incineration, incineration processes, and landfill. According to the findings of these scenarios, OPEX varies from 16.89 to 19.93 £/MWh and DECOM between 3.47 and 3.65 £/MWh, whilst the total LCOE varied from 50.67 to 66.73 £/MWh. [ABSTRACT FROM AUTHOR]

The constantly growing demand for energy, the need to ensure the security of its supply, and the progressing climate changes related to the emission of carbon dioxide and other pollutants have caused, in recent years, an increase in interest in offshore wind energy. This paper presents all the work that needs to be done to build a wind farm in the Baltic Sea. The work focuses on the description of the equipment and the necessary tests to perform in order to analyze the obtained data. The data will allow for unambiguous interpretation and the selection of a convenient location for the construction of a wind farm. The final product of the work is a cost estimate, in which the costs of undertaking such an undertaking are shown. [ABSTRACT FROM AUTHOR]