A Comparison of the Economic Ripple Effects of Marine Fisheries and Offshore Wind Power Generation through Input-Output Analysis

Abstract

After the Great East Japan Earthquake, Japan has shown increased interest in renewable energy. While offshore wind power generation has attracted much attention in Japan because of the extensive ocean area available for the purpose, a tradeoff between policy support for offshore wind power and ocean fisheries is inevitable. We compare the economic ripple effects of investments in offshore wind power generation and marine fisheries using input-output analysis. Our results show that investment in marine fisheries has a higher economic ripple effect than that in offshore wind power generation and that the annual economic value generated by the former is also higher. While offshore wind power is important as a source of alternative/clean energy for Japan, it would be prudent to realize its lower economic value compared to ocean fisheries.