Beyond LCOE: A multi-criteria evaluation framework for offshore renewable energy projects

The transition to low-carbon energy systems is a complex process that implies radical technological changes, greenhouse gas emission reductions, and benefits the local economies yet, also significant investment, need for capacity building, strengthening supply chains supporting legal frameworks. Consequently, choice of renewable technologies should be based on comprehensive assessment addressing different dimensions are affected. Clean traditionally evaluated basis their techno-economic performance. Such an approach penalises emerging generally more capital-intensive given innovation requirement lack support mechanisms facilitating industrial roll-out. In this paper, multi-criteria evaluation framework proposed encompassing three important broad dimensions: techno-economics, environment socio-economics. applicability flexibility demonstrated case studies. First, hypothetical deployment floating offshore wind farm both in Scotland Portugal evaluated. Later, used evaluate deployments wave devices same two locations. results show provides holistic overview performance implications technologies, particularly ones, can better decision- policy-making medium- long-term. Furthermore, by researchers, investors, developers and/or analysts assess planning alternatives.