30 Jun '11, 3pm

Offshore Wind Costs to Fall 15 Percent by 2022

For the forseeable future, the UK is likely to be the largest market for offshore wind with a combined pipeline of nearly 50 GW of projects. What happens in this market is therefore likely to be replicated across other European regions, where offshore wind is expedcted to be the fastest growing source of renewable energy. Key areas highlighted for potential cost reductions are in operation and maintanence, improved power output and reliability of turbines. Upfront costs (capital expenditure) are expected to remain high for the forseeable future, unless there is an improvement in external factors, such as the cost of steel. Improvements in operational expenditure and energy yield are expected to be enough to reduce costs to the £0.12 / kWh mark within ten years. At the publication of the report at the UK Offshore Wind Conference in Liverpool , some commentators expressed co...

Full article: http://www.renewableenergyworld.com/rea/news/article/2011...

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