Wind technologies: Opportunities and barriers to a low carbon shipping industry |
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| Institution: | 1. UCL Energy Institute, United Kingdom;2. Carbon War Room, United States |
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| Abstract: | The abatement potential of wind technologies on ships is estimated to be around 10–60% by various sources. To date there has been minimal uptake of this promising technology, despite a number of commercially available solutions that have been developed to harness this free and abundant energy source. Several barriers have been referred to in the literature that inhibit uptake of energy efficiency measures in shipping. This paper provides a systematic analysis of the viability of wind technology on ships and the barriers to their implementation, both from the perspective of the technology providers and technology users (ship owner–operators), using the survey and the deliberative workshop method. The data generated from these methods is analysed using the qualitative content analysis method. The results show that whilst there is renewed interest in wind power, there are several common economic barriers that are hindering the mass uptake of wind technologies. Our analysis shows that third party capital is a plausible solution to overcoming the cost of capital, split incentives and information barriers that have contributed to inhibiting the uptake of wind technology in the shipping industry. |
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| Keywords: | Non-market failures Market failures Wind propulsion Shipping |
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