The paper describes a method for assessing the electricity production and value of offshore wind resources. This method is more suited for ocean wind resources, and can be carried out prior to the expense and time delays of constructing a meteorological tower. To answer the question, "What is the wind resource worth?" we show how to estimate the total size of the resource, and then we evaluate the value of that resource on the local electricity market, that is, resource mapping and revenue valuation. The resource mapping is based in turn on available area and hourly wind speed. To illustrate these methods, this paper assesses Delaware's offshore wind energy resource. From available area, we develop methods for making a detailed examination of the competing uses of the ocean, which leads to a mapping of exclusion zones. The mapping of exclusion zones involves different factors and different data resources in comparison to land-based wind resource assessment. From exclusion zones, bathymetry, and turbine tower water depth limitations, the water sheet area available for wind turbines is calculated, then the number of wind turbines, then, from hourly wind data, the total potential electricity. The revenue valuation translates historical buoy records of wind data into electricity production and matches that figure with the corresponding pricing for electricity in the Southern Delaware spot market, at the times and locations of the wind availability. Because the methods described here do not rely on constructing meteorological towers nor on proprietary software, a local government, research institution or other organization can carry them out. Therefore, these methods can be carried out as an initial assessment of resources, or by a government or public entity as a check on claims by private applicants or investors.
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