In Search of Suitable Methods for Cost-Benefit Analysis of Cyber Risk Mitigation in Offshore Wind: A Survey

In recent years, notable incidents have highlighted the vulnerability of wind energy infrastructure, making cybersecurity crucial for the offshore wind industry. However, justifying the costs of cybersecurity measures is essential. A cost benefit analysis (CBA) is commonly utilised to support decision-making for risk mitigation. With a cost benefit analysis, risk mitigation strategies that strike an optimal balance between the costs of mitigation measures and the resulting risk reduction can be identified. This survey of literature was carried out to identify the existing proposed solutions for cost benefit analysis on cyber risk mitigation measures for offshore wind cyber physical systems. After narrowing the area scope, a systematic search across Scopus and Web of Science, yielded 18 articles, of which six met the selection criteria. It was found that the there was a lack of cost benefit analysis of cybersecurity solutions for, or set in, the area of offshore wind directly. From the analysis of the surveyed works, suggestions on future directions were given. The existing literature found lacks detailed cost modelling for offshore wind, beyond general breakdowns encompassing capital, maintenance, and labour/installation expenses, risk and scenario loss. Some of the literature used contextual factors such as compatibility and effectiveness of mitigation measures, effects on OT performance, geographical location, geopolitical context, and installed rated power which could be adapted to suit offshore wind. Since offshore operations contribute significantly to costs, cost modelling and consideration of other relevant factors pertaining to this area would be beneficial if explored. As an emerging area, in the future we expect this research to be a basis and a methodology that can be expanded with a larger data set from other publications in the field. Thus, it represents an opportunity to advance knowledge in offshore wind cyber-physical systems.