The offshore wind power industry has some way to go to prove it can take its place as a sustainable part of the energy mix. The cost and technological track record remain major challenges. Government bodies are still split between positive and negative sentiment about offshore wind power.
We got the views of the major players who are central to determining the pace of growth including developers, contractors/original equipment manufacturers (OEMs), utility companies, government bodies and financial institutions.
The biggest challenge facing the industry is to bring costs down to a range where offshore windpower can compete in the energy mix with little or no subsidy. However, the outlook among contractors/OEMs for cost reductions is mixed. The greatest expectation is of a cost decrease in real terms (42% of respondents) but many do not foresee any reduction with a 25% actually predicting cost increases.
[mappress]
Source: pwc, July 05, 2011;