The cost of offshore wind has dropped by 32% from this time last year according to ongoing research performed by Bloomberg New Energy Finance (BNEF). they have also found that the cost f offshore wind has dropped 12% in 2019 alone! BNEF have updated their Levilised Cost of Energy (LCOE) and have found that the current global benchmark estimate for offshore wind sits at $78 per MWh.
“New offshore wind projects throughout Europe now deploy turbines with power ratings up to 10MW, unlocking CAPEX and OPEX savings,” BloombergNEF said.
Recently financed projects in Denmark and the Netherlands are expected to achieve an LCOE of between $53-64/MWh excluding transmission. BNEF believe the main reason for the reduction in LCOE is down to the falling prices for the wind turbines themselves which have dropped by 7% since the end of 2018.
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