A system dynamics model of offshore wind farm degradation: Enabling operation and maintenance planning under foreseen asset management impacts

•Developing a dynamic model to optimize the operation and maintenance of offshore wind firms (OWFs).•Predicting the future states of downtime expenses, failures, and production losses.•Identifying factors affecting maintenance to minimize the impact of human response on O&M activities.•Applying to an exemplar OWF, located in the Bass Strait, the north coast of Tasmania, Australia.