Report: Offshore Wind on Fast Track to Cost Competitiveness

Image for illustrative purposes. Source: DONG Energy

Offshore wind could potentially be fully integrated into the market on a competitive basis in some European countries within the next decade, according to a new report published by the International Energy Agency’s Renewable Energy Technology Deployment programme (IEA-RETD).

The report, REWind Offshore, delivered through a collaboration between the Carbon Trust, Mott MacDonald, and Green Giraffe, projects that global offshore wind capacity is set to increase threefold in the period from 2015 to 2020, marking a period of industry maturation as costs fall and new offshore wind markets emerge, both within and beyond Europe.

Cost reduction of 60% from 2010 to 2017 indicates that industry targets for 2025 have been exceeded 8 years ahead of schedule, which could lead to offshore wind becoming cost competitive in some of the North Sea countries within the next ten years.

However, the report suggests that a more cautionary approach is expected in new markets with less established industry structures, such as the United States and East Asia.

The report highlights the importance of effective policy in stimulating deployment and driving cost reduction in the offshore wind sector.

Following a year of record breaking auction prices in the Netherlands and Denmark, the study identifies the key success factors that have supported a burgeoning industry in Europe, drawing lessons learned for both policy makers and industry players.

Share this article

Follow Offshore Wind

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

SNS2018 – The Southern North Sea Conference & Exhibition

EEEGR’s flagship Southern North Sea conference is the most important event for the energy sector in the East of England…

read more >

Maritime & Offshore Career Event (MOCE)

There is something for everyone; MOCE is not only for starters, experienced professionals also visit the event to find their next career move…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreWIND.biz, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreWIND.biz, you’ll reach countless professionals in the sector. For more information, click below...

apply

Offshore Wind jobs in Taiwan at New Power Partners

New Power Partners offers global management and support services to the Offshore Wind Industry within development, planning and construction activities ...

apply

Vessels>