The cost of generating electricity offshore wind turbines is estimated. Part 4 of the Covid-19 pandemic provides information about the economics of offshore wind power. In contrast, part 4 of the Covid-19 pandemic section 3 provides information about the economics of offshore wind power generated using, in contrast, described. Section 5 examines the role of green finance in reducing the life cycle cost of offshore wind power projects. 2. The impact of the policy mix on green capital and the profitability improvement plan of offshore wind power projects should be formulated following the actual coexistence of policy tools.
5.1. Analysis impacts of Covid-19 on the cost of offshore wind power plants
The average LCOE of wind power dropped from RMB 0.86/kWh in 2014 to RMB 0.72/kWh in 2016, a sharp drop of 16.17%. Since the emergence of Covid-19, the construction of offshore wind turbines has suffered losses, resulting in reduced efficiency of wind turbines and rising prices of offshore wind turbines. Therefore, by 2020, the average LCOE will increase by 10.84% to 0.79 yuan/kWh. The LCOE of the 20 projects in 2019 is lower than the FIS (0.75 yuan/kWh) in Figure 4, indicating that most of the projects will be profitable. Only three of the 19 projects will be profitable. Starting in 2020, the Covid-19 pandemic will be lower than FIS, which means that only 3% or 16% of companies will be profitable. In addition, the outcome of the Covid-19 pandemic will vary depending on your location, and average results LCOE Zhejiang province increased by 3.25%.
COVID-19 insulating standards, on the one hand, stymie the development of offshore power plants. The project's progress was postponed by the employees. COVID-19The employees postponed the project's progress certainty among stockholders who are interested in future cash flows. You may be hesitant to invest in offshore wind power projects due to unclear financial restrictions and restricted availability. Furthermore, the present COVID-19 offshore wind turbine pandemic has gotten more unstable as the offshore wind turbine supply chain grows more international. Finally, the COVID-19 outbreak can potentially raise the cost of wind energy for maritime can potentially.
5.2. Green financing strategy and the LCOE of offshore wind generating
Section 4.7 describes how green tax policies may promote access to low-cost financing and extra offshore investment and revenue while also lowering the Levelized cost of energy (LCOE) and increasing the profitability of offshore wind generating projects. Offshore wind farms are being affected by the COVID-19 pandemic. The life cycle cost of offshore wind farms with environmentally friendly financing alternatives, as well as the 19 life cycle cost lines of the 19 offshore and scheduled to be built by 2020, is shown. The cost of electricity is 0.68 yuan/kh and 0.69 yuan/kWh (Changle Farm offshore wind power). C) 19 wind farms (Mainland Changle C Wind Farm) with a cost of 0.86 yuan per kilowatt-hour of electricity C Wind Farm Project). In 2020, the difference between Changle C offshore wind farm and Bandon III offshore wind farm (Changle C offshore wind farm) was 0.68 yuan/kWh (Changle C offshore wind farm) (Banton III offshore wind farm). By 2020, the average fixed cost and fixed power cost (LCOE) of 19 offshore wind turbines will be 0.79 yuan/kWh and 0.79 yuan/kWh, respectively, according to the National Renewable Energy Laboratory. Compared to FIS (0.75 yuan/kWh), LCOE will only be able to build or compare or wind power projects by 2021. 2020 will see a rise in coal prices from 0 to 50 yuan as an increase in lucrative projects from three-sevenths to 100%. (to). And the cost of carbon dioxide is growing under China's emissions trading pilot progress. According to the World Bank, thee. After reaching 100 yuan per tonne in the coal pilot project, average Levelized cost of electricity) drops to 0.72 yuan per hour of Electrocoated, increasing the number of viable projects from 12 to 14. Investors in offshore wind turbines get low-interest commercial bank loans under the Green Credit Program, allowing them to reduce their loan repayments. The average fixed energy cost decreased from 0.79 yuan/kWh to 0.74 yuan/kWh. The number of winning bids fell from 3 to 11, and the benchmark loan interest rate was cut by 20 percent due to these changes in Twenty-one commercial banks in China recorded the loans.
Twenty-one commercial banks in China reported the lowest interest rate on long-term loans, a 40 percent drop from the previous month's benchmark rate. The average Levelized cost of energy (LCOE) will be decreased to 0.69 yuan/kWh to ensure overall profitability. It is the year 2020. Following data, great laws such as coal pricing, commercial greed green loans have contributed to the reduction of energy prices and the growth in the profitability of offshore wind projects. According to our study, offshore wind energy prices range between 0.79 yuan/kWh and 0.76 yuan/kWh, and offshore wind energy prices ranger.
5.3. Offshore wind farm life cycle costs under various policy scenarios
It is also investigated if the combination of green tax policies would influence lowering fixed energy prices for offshore wind generating projects in 20influenceAccording to 19 alternative policy scenarios, the distribution of LCOE projects is depicted in Fig. 3. Figure 3 illustrates the entire life cycle costs of 19 offshore wind generating projects in 2020, including green credits and carbon benchmark prices and green certificates and carbon bench including). According to Electra and the calculator's fixed cost, the rate is between 0.68 and 0.86 yuan/kWh, which is lower than the benchmark rate. The average loan cost of energy (LCOE) (0 percent GCR) was 0.79-0.68 yuan/kWh, representing a reduction of 13.85 percent. Take, for example, a rise in the price of CO2 from zero to 150 yuan per ton (Case CP 0). (CP 150 is the case number in this instance.) If the reference interest rate of the loan is 10 percent (GCR -10 percent), 20 percent (GCR -20 percent), 30 percent (GCR -30 percent), or 40 percent (GCR -40 percent), the loan is considered to be in default (GCR). In the case of 40 percent), the average LCOE is 0.76 yuan/kWh, 0.73 yuan/kWh, 0.70 yuan/kWh, 0.68 yuan/kWh, and 0.66 yuan/kWh, respectively (Table CP-150). Chinese carbon trading market participants can emit up to 0.66 yuan/kWh of carbon dioxide, 0.062 yuan/kWh, 0.60 yuan/kWh, and 0.58 yuan/kWh of carbon cannier discretion. LCOE will fall by 14.33 percent, 14.83 percent, 15.35 percent, and 15.88 percent if there is no CO2 pricing system, and LCOE will decrease by 14.83 percent if there is no CO2 price system (Case CP-0). In 2020, the price of the LCOE 19 offshore wind power project will vary between 0.68 yuan/kWh and 0.86 yuan/kWh, depending on the mix of environmental protection and green letters of credit. (It also has the option of being converted into RMB/kWh). Furthermore, there are just three offshore wind energy projects now under construction. It has a CCR of zero per cent, making it acceptable for usage. The average Levelized cost of capital (LCOE) for TCOC (Box TGC-130) is 130 yuan. So, the credit reference rate is decreased by 0 per cent in the GRC case, then by 10 per cent in the GRC case, then by 20 per cent in the GRC case, then by 30% in the GRC case, then by 40% in the GRC case. (GRC accounted for 40% of the total). The RMB/kWh, the RMB 0.53/kWh, and the RMB 0.0/kWh all fell by 23.90 percent, 24.72 percent, and 25.56 percent, respectively, from their previous levels. According to the findings, green credit requirements can increase the efficacy of TGC proposals while also accelerating the decrease of the levelized cost of energy (LCOE) of offshore wind generating plants.
5.4. The COVID-19 vaccination impacts on financing mechanism
The names of responders are included in Table 1. "Support the suggested COVID-19 immunization technique. Individuals only need to pay a tiny percentage (6.4 per cent). Although individuals are responsible for the entire cost of the COVID-19 vaccination, the majority of respondents (15.7 per cent) feel that individuals must pay out of pocket. Make a payment for the entire cost of the COVID-19 vaccination. According to 77.9 per cent of respondents, individuals are responsible for a portion of the expenditures associated with COVID-19. Respondents (90.9 per cent and 78.0 per cent, respectively) believe that the government and health insurance companies should shoulder a portion of the expense of COVID-19.
Figure 3 and Table 4 illustrates the DAP distribution of O.E. and certain COVID-19 vaccinations compensated in the form of E.O. They will pay you with RMB ten or more for this. The COVID-19 vaccine is an OE-based WTP medium. RMB 100 is the average value, whereas CN4 254 is the average value (SD = 677). The most excellent willingness to pay in the O.E. problem is 10,000 CNY. Since some respondents have a greater desire to pay than the average, the distribution of willingness to pay data is biased to the right, and the average willingness to pay is more significant than the median. Compared to the majority, their stated W. They were much higher (for example, RMB 1,000 and beyond); a more significant proportion of respondents than typical expressed an unwillingness to pay for the COVID-19 vaccination. Self-funded vaccinations for COVID-19 account for approximately 47% of all immunizations, and the average is 45% (SD = 22).
Table 3
Shows the self-paid proportions of responders for COVID-19 vaccination.
WTP values
|
Self-paid %
|
|
Occurrence
|
(%)
|
Cumulative (%)
|
|
Occurrence
|
(%)
|
Cumulative (%)
|
Rejected a
|
179
|
8.7
|
8.7
|
Rejected a
|
179
|
8.7
|
8.7
|
0
|
20
|
1
|
9.7
|
0
|
38
|
1.9
|
10.5
|
1 ~ 9
|
12
|
0.6
|
10.3
|
1 ~ 9
|
25
|
1.2
|
11.8
|
10
|
51
|
2.5
|
12.7
|
10
|
49
|
2.4
|
14.1
|
11 ~ 49
|
66
|
3.2
|
15.9
|
11 ~ 19
|
53
|
2.6
|
16.7
|
50
|
298
|
14.5
|
30.4
|
20
|
156
|
7.6
|
24.3
|
51 ~ 99
|
37
|
1.8
|
32.2
|
21 ~ 29
|
127
|
6.2
|
30.5
|
100
|
526
|
25.6
|
57.8
|
30
|
101
|
4.9
|
35.4
|
101 ~ 149
|
15
|
0.7
|
58.5
|
31 ~ 39
|
78
|
3.8
|
39.2
|
150
|
52
|
2.5
|
61
|
40
|
177
|
8.6
|
47.8
|
151 ~ 199
|
10
|
0.5
|
61.5
|
41 ~ 49
|
177
|
8.6
|
56.4
|
200
|
382
|
18.6
|
80.1
|
50
|
269
|
13.1
|
69.4
|
201 ~ 299
|
15
|
0.7
|
80.8
|
51 ~ 59
|
130
|
6.3
|
75.8
|
300
|
89
|
4.3
|
85.1
|
60
|
131
|
6.4
|
82.1
|
301 ~ 499
|
24
|
1.2
|
86.3
|
61 ~ 69
|
117
|
5.7
|
87.8
|
500
|
190
|
9.2
|
95.5
|
70
|
39
|
1.9
|
89.7
|
501 ~ 999
|
19
|
0.9
|
96.5
|
71 ~ 79
|
47
|
2.3
|
92
|
1000
|
48
|
2.3
|
98.8
|
80
|
49
|
2.4
|
94.4
|
1001 ~ 2000
|
10
|
0.5
|
99.3
|
81 ~ 89
|
25
|
1.2
|
95.6
|
3000
|
1
|
0.1
|
99.3
|
90
|
3
|
0.2
|
95.7
|
5000
|
8
|
0.4
|
99.7
|
91 ~ 99
|
13
|
0.6
|
96.4
|
10,000
|
6
|
0.3
|
100
|
100
|
75
|
3.6
|
100
|
The WTP value distribution from the P.S. format is shown in Table 3 is 31.1 per cent of those polled said they would be prepared to spend CNY 50 or less for COVID-19 immunization. Furthermore, the percentage of respondents ready to spend CNY 100 and Table 2 shows that CNY 200 accounted for 27.0 percent and 18.7 percent, respectively, identical to the O.E. format. In both the O.E. and the P.S. formats, the WTP was fairly consistent and durable.
Table 4
Distribution of WTP for COVID-19 vaccination.
|
Frequency
|
(%)
|
Cumulative (%)
|
Rejected a
|
179
|
8.7
|
8.7
|
0
|
115
|
5.6
|
14.3
|
10
|
104
|
5.1
|
19.3
|
50
|
419
|
20.4
|
39.7
|
100
|
556
|
27
|
66.7
|
200
|
385
|
18.7
|
85.4
|
500
|
130
|
6.3
|
91.7
|
Willing to pay for any price
|
170
|
8.3
|
100
|
Note: Refused a means of expressing their refusal to be vaccinated. |
The LCOE of the 19 offshore wind generating projects in 2020. (b). The directions vary, ranging from 0.68 to 0.86 yuan per kWh. There are only three offshore wind power projects. Therefore, the green loans and green market certificates pile up. It will be profitable with a CCR of 0 percent. The loan reference interest rate has been lowered by 1%. (Case GCR -0 percent), 13% (GCR -11 percent), 19% (GCR -20 percent), 30% (GCR -31 percent), and 41% (GCR -39 percent). TGC has an LCOE of 130 yuan (Case TGC 130), with an average value of 0.70 yuan/kWh, 0.68 yuan/kWh, and 0.70 yuan/kWh in China. 0-yuan, 70 yuan/kWh Furthermore, the average LCOE of TGC is 270 yuan (case TGC-270), implying that the highest TGC price in China's TGC market is 0.60 yuan/kWh, 0.58 yuan/kWh, 0.55 yuan/KWh, 0.53 yuan/kWh, 0.50 yuan/kWh, and the lowest TGC price is 23.90 yuan/kWh, 0.55 yuan/kWh, when compared to the cost of generating electricity 0 TGC). It also indicates that when the benchmark loan interest rate lowers from 1% to 41% for the price of TGC CNY 207 (in the instance of TGC-270), the rate of decline in LCOE increases. Furthermore, the findings suggest that the green credit policy can increase the TGC program's efficiency and assist offshore wind turbines in lowering their LCOE more quickly.
5.5. Analysis of Sensitivity
In table 7 Carbon and TGC levels are significant. They are the most important political problem in ensuring that wind energy projects are profitable. There are many important factors to consider, including the size of the wind turbine. The cost and profitability of wind energy are affected by the efficiency and utilization of offshore wind energy, the cost of offshore wind energy, and the status of offshore wind resources (Tu et al. 2019a; Sherman et al. 2020). Depending on the conditions. As a result, CO2 and TGC pricing are required in order for any project to be viable. Table 6 and Figure 4 illustrate the results for various parameter assumptions.
Table 5
Key parameter sensitivity.
Variables
|
Values
|
Avg. LCOE (CNY/kWh)
|
carbon price required (CNY/t CO2)
|
TGC price required (CNY)
|
O&M costs (CNY/kWh)
|
0.1
|
0.74
|
62.24
|
75.52
|
|
0.12
|
0.76
|
94.93
|
107.72
|
|
0.15
|
0.79
|
143.97
|
156.01
|
|
|
0.85
|
185.59
|
236.51
|
Utilization rate (%)
|
90
|
1.13
|
673.46
|
685.18
|
|
95
|
0.88
|
284.22
|
296.19
|
|
97
|
0.79
|
143.97
|
156.01
|
|
99
|
0.71
|
12.21
|
24.34
|
\Capacity factor (%)
|
30
|
1.06
|
487.02
|
498.82
|
|
35
|
0.92
|
272.55
|
284.51
|
|
40
|
0.79
|
143.97
|
156.01
|
|
45
|
0.76
|
41.52
|
53.64
|
Operators must first address the issue of predictability in offshore wind generation, resulting in increased operating and maintenance expenses (Tu et al. 2019a; Sherman et al. 2020). The operation and maintenance resulting sensitivity analysis will determine each offshore wind farm's CO2 serenity and needed value. We picked 0.1 yuan/kWh for the small scenario and 0.2 yuan/kWh for the big case, based on the difference between the two (EMI, 2014). During the same period, the average cost of offshore wind power climbed from 0.74 yuan per kWh to 0.85 yuan, while the average running price went from 0.10 yuan per kWh to 0.20 yuan per kWh. Maintaining the facility has become more expensive than planned, as indicated in Table 3.
With regard to offshore wind power, the cost of electricity generation has a more significant impact. To better understand the viability of offshore wind power projects, we assessed the LCOE of 19 offshore wind power projects in 2020, with the current FIS being 0.75 yuan/kWh. The CO2 price ranges from 62.24 yuan per ton of CO2 to 94.93 yuan per tonne of CO2, 143.97 yuan per ton of CO2, and 185.59 yuan per ton of CO2, depending on the country. For offshore wind power plants, the operational cost is 0.1 yuan per kWh and 0.12 yuan for every tone of electricity. Our kilowatt-hour energy. The rate of exchange stays at five yuan/0.0. Alternatively, 0.2 yuan/kWh CNY and the fundamental value of TGC 75. As a result, the operational value of CO2 and TGC is influenced by changes in variable operating expenses. Higher levels of CO2 and TGC are required to decrease the increased operating expenses associated with company start-up and maintenance on offshore platforms.
This application proved the effectiveness of offshore wind turbines and drew the attention of investors and government officials' attention. Sherman & Co is a business with its headquarters in New York (2020). The table shows 3.13 yuan/kWh or 0.71 yuan/kWh, assuming a utilization rate of 90-99 per cent, the influence of utilization rate on LCOE, accurate carbon price, and TGC cost under different utilization rates, and the impact of utilization rate on LCOE, accurate carbon price, and TGC cost. This demonstrates that reduced energy production costs will lead to lower rates of energy consumption. For example, when comparing the financial impact of offshore wind power projects today to the economic impact of all offshore wind power projects in 2020, the CO2 value (TGC value) required for profit in 2020 is 673.46 yuan/ton CO2, 284.22 yuan/ton CO2, 143 and 97 yuan/ton CO2, and 673.46 yuan/ton CO2. The crucial TGC price is 685.18 yuan, and 296 yuan when the carbon dioxide utilization rate reaches 90 percent, 95 percent, 97 percent, and 99 percent yuan/ton carbon dioxide and the 12.21 yuan/ton carbon dioxide utilization rate is reached, respectively. Coal prices and TGC regulations, as a result, may be advantageous to them. Invest in offshore wind farms and get the rewards of doing so.
Finally, the capacity factor reflects the prospective status of offshore wind farms, which may impact the lifecycle cost of electricity by offshore wind turbines (Tu et al. 2019a; Sherman et al. 2020). It is recommended that the capacity factor be between 30 and 45 percent, according to the International Renewable Energy Organization (IRENA, 2020). It can be shown in Table 3 that by raising the average Levelized cost of electricity) of offshore wind generation from 30% to45%, the cost is lowered from RMB 1.06/kWh to RMB 0.76/kWh. As the cost of energy generation declines, the capacity factor rises in proportion to it. If the cost of power generation for all offshore wind power projects is compared to that of FIS, the cost of power generation for all offshore wind power projects in 2020 will be RMB 487.02/tonne CO2, RMB 272.55/tonne CO2, RMB 143.97/tonne CO2, RMB 41.52/ CO2 and TGC. The critical tonnage is 498.82 yuan, 284.51 yuan, and 156.01 yuan for the first, second, and third places. As coal costs continue to increase and TGC rules become more stringent, offshore wind farms are becoming an increasingly appealing source of renewable power. Determine the cost of energy generated by offshore wind turbines. Among the topics covered in Part 4 of the Covid-19 pandemic is the economics of offshore wind power, while Part 3 examines the profitability of offshore wind power provided by specific technologies. On the fifth page, we look at the impact of green finance on lowering the total cost of ownership of offshore wind farms. The influence of the policy mixes on green capital and the approach for increasing the profitability of offshore wind power projects must be tailored to the actual cohabitation of policy instruments. Whether or not Covid-19 will influence offshore wind power projects/life cycle cost of offshore wind farms. Compared to 2014, the average fixed electricity cost (LCOE) of wind generation has decreased considerably, falling from RMB 0.86/kWh to RMB 0.72/kWh in 2016, representing a 16.17 percent decrease year-on-year. Consequently, the offshore wind turbine sector has been suffering losses since the development of Covid-19, which has resulted in a decrease in wind turbine efficiency and an increase in the price of offshore wind turbines.