The first step in categorizing potential benefits and costs is determining the relevant scope of the analysis. We have concluded that, at this level of analysis, it is appropriate to limit the scope to the benefits and costs associated with the types of electricity generation that offshore wind, waves, and ocean currents might be displacing. Therefore, we consider externalities associated with offshore alternative energy plus those associated with coal, natural gas, oil, nuclear, and conventional hydroelectric power. (more…)
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