Offshore wind energy in Greece: Estimating the socio-economic impact

Offshore wind energy can play a key role in helping Greece become carbon neutral by 2050.

Alma Economics was commissioned by ELIAMEP, under the auspices of the Mediterranean Growth Initiative (MGI) and with funding from EEA Grants, to explore the socio-economic value that can be generated from floating offshore wind farms in the Greek seas. Alma Economics developed a Cost Benefit Analysis (CBA) framework which incorporates investment, environmental, social, and economic costs and benefits that can flow from a hypothetical offshore farm to (i) the international community, (ii) Greek society, and (iii) host communities.

The framework explored the welfare gains from reduced CO2 emissions, as well as the welfare losses to local communities and visitors as a result of visual disamenity and environmental effects. Key findings from this research and the accompanying CBA framework will support evidence-based decision making about future investments in offshore wind power in Greece.

You can read the full report here.

The CBA tool can be downloaded from here.

You can find out more on our research and tool here.