D4.10 Socioeconomic Study

Sarah Kandrot, Val Cummins, Declan Jordan
2020 Zenodo  
With over 12GW of offshore wind energy at various stages of planning, Ireland is on the cusp of a renewable energy boom. Given the size of offshore wind projects, there is great potential for the sector to deliver considerable environmental, social, and economic benefits to Irish society in the coming years. This study, part of the Eirwind project, explores the socioeconomic opportunity associated with the development of the offshore wind sector for Ireland. It focuses on three key areas - job
more » ... reation, economic value, and regional development potential. The outputs can be used to inform policy and strategies for sectoral development in order to maximise the socioeconomic benefits of offshore wind development and minimise or avoid potentially negative impacts on stakeholders. The study uses qualitative and quantitative research methods to assess the value of offshore wind for Ireland. It builds on previous research to give a contemporary appraisal of the direct and indirect domestic job creation and gross value added (GVA) impact in the coming years. Projections are derived from an economic model that was developed as part of this study. Two scenarios were modelled, one assuming an installed capacity of 2.5GW by 2030 and one assuming 4.5GW by 2030, with 25% of installed capacity from floating wind from 2026. The approach to this modelling – a value chain analysis – was selected as it is more accessible and transparent than traditional methods, such as input-output (IO) modelling, and the model can be updated under changing market conditions. Many previous estimates of the employment impacts associated with offshore wind development are outdated or lack transparency in their methods and are difficult to compare with one another, and therefore verify, due to differences in underlying assumptions. This is the first study to quantify the GVA impact of offshore wind development for Ireland. Key findings of this report suggest that in 2030, 2.5-4.5GW of domestic offshore wind development would support between 4 [...]
doi:10.5281/zenodo.3948014 fatcat:3hdtbz6pp5d75he3s4yusazehq