With an increasing number of maritime industries competing for space off Virginia’s coastline, integrated solutions for marine areas may offer a way to limit conflict and maximize productivity. Countries across the world are researching the different ways in which the space between offshore wind (OSW) turbines can be utilized to provide economic and environmental benefits. As Virginia constructs the first OSW farm in US Federal waters, there are new opportunities for co-location (coupling multiple maritime activities in one area) that could benefit the Virginia economy. Using data from a choice experiment and random utility modeling, this research quantifies Virginia public preferences for various co-location options within the lease area of the Coastal Virginia Offshore Wind (CVOW) farm. These estimates can be utilized as a comparison measure against implementation and management costs of each activity. The experimental design of this study serves as a template for other OSW installments around the world.
Three co-location activities were included in this study based on specific characteristics associated with the CVOW project and presently available technologies: (1) a seaweed aquaculture farm, (2) a non-harvested seaweed forest, and (3) a designated research area. The CVOW lease area hosts regular activity including, recreational and commercial fishing, boating, and charter operations. Permitting public access to ocean space between the turbines is considered the status quo (SQ) operations throughout this experiment.
During the survey, respondents are provided with the option to willingly accept an annual tax for the implementation of various combinations of co-location techniques based on the economic and environmental implications associated with each activity or stick with the SQ of “unlimited public access”. A web-based choice experiment was disseminated to a representative sample of the Virginia public in winter of 2021. It was deduced from the econometric examination that the average Virginian household is willing to pay nearly $40 annually for a combination that includes all co-location activities. The second highest WTP amount is associated with a combination of both seaweed aquaculture and a non-harvested seaweed forest at more than $31 per 1,000 acres.
WTP data is helpful information for energy providers, researchers, aquaculturists, and policymakers because understanding public predilection through estimating WTP engages the public, which can aid in circumventing public resistance during implementation. Additionally, this level of insight can be valuable to the local and global economy by potentially stimulating healthy competition in research and technological innovation surrounding the possibilities of co-location with the OSW and offshore aquaculture industries.