Abstract
Europe’s offshore wind industry has provided evidence of learning curve efficiencies setting in, with project economics (as measured by levelised cost of energy) drastically improving since 2015. Moving towards the end of the decade, the question becomes whether this cost curve trajectory is sustainable and if these efficiencies can be replicated in the emerging offshore wind markets of North America and Asia. This chapter summarises the current trajectory of the offshore wind industry and presents factors affecting it, including policy uncertainty in key markets and the evolution of wholesale power market prices, that could have global ramifications to the industry.
Keywords
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsReferences
Bloomberg New Energy Finance. (2017). Record $30bn Year for Offshore Wind but Overall Investment Down. Bloomberg. Jan 12. Accessed online. February 10, 2017. https://about.bnef.com/blg/record-30bn-year-offshore-wind-overall-investment/
Catapult Offshore Renewable Energy. (2017). Cost Reduction Monitoring Framework 2016 (CRFM). Qualitative Summary Report. January 2017. http://crmfreport.com/wp-content/uploads/2017/02/CRMF-2016-Qualitative-Report-Print-Version.pdf
EIA. (2017, May 31). Regional Greenhouse Gas Initiative Auction Prices are the Lowest Since 2014. Energy Information Administration (EIA). https://www.eia.gov/todayinenergy/detail.php?id=31432. Accessed 28 Aug 2017.
European Commission. (2016). Energy Prices and Costs in Europe. Report form the Commission to the European Parliament, the Council, The European Economic and Social Committed and the Committee of the Regions. November 30. COM (2016) 769 Final. pp. 4–5.
Navingo. (2017, January 13). International Business Guide Report. Offshore Wind, p. 16. https://issuu.com/navingo/docs/ibg2017_totaal_spread
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2017 The Author(s)
About this chapter
Cite this chapter
Poudineh, R., Brown, C., Foley, B. (2017). Looking Ahead: Current Trajectory and Key Uncertainties. In: Economics of Offshore Wind Power. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-66420-0_8
Download citation
DOI: https://doi.org/10.1007/978-3-319-66420-0_8
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-66419-4
Online ISBN: 978-3-319-66420-0
eBook Packages: Economics and FinanceEconomics and Finance (R0)