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www.sname.org/sname/mt October 2012 Installation of Siemens 3.6 MW turbines at Gun?eet Sands in the Northern Thames Estuary, UK. U.K. PREDENMARKGERMANYBELGIUMNETHERLANDSU.S. INCENTIVE Renewables Obligation certi?cate Subsidy above market price Feed-in tariGreen certi?cates Federal incentive payment Production and investment tax credits AMOUNT /MWh110 + wholesale price 37 + wholesale price 150107186 15 + wholesale price (PTC); 30% of capital costs (ITC)DURATION 20 years8 years 12 years 10 years 15 years 10 years OTHER NOTES Oshore wind generates 2 times ROCs of onshore wind FIT for individual projects also possible, ~84 /MWh Government- owned development bank (KfW) oers loan guarantees Minimum price for oshore RECs REC is redeemable at ?xed price from RES administrator Requires tax equity partner; in service deadline of 2013 NUMBER OF PROJECTS 1512 4240MW CAPACITY 1,858 861 296 195 247 0FIGURE 1: EUROPEAN AND AMERICAN OFFSHORE WIND PROJECTS PHOTO COURTESY SILLSON COMMUNICATIONS LIMITED