Offshore wind energy is expected to play a major role in contributing to the UK’s renewable energy targets, but the costs involved in offshore wind generation have escalated markedly, especially against early predictions.
Why have costs risen significantly since the mid 2000s and how may these costs be reduced in future?
Providing a thorough review of the current state of knowledge in offshore wind power costs, the report documents early expectations and policy goals, explains recent cost escalations and assesses future prospects.
The report explores:
- The factors behind cost escalations, whether they were unique or generic and how they might be mitigated.
- The future for offshore wind, when costs might decline, by how much, how rapidly and what needs to be done to make this happen.
- Reasons behind the optimistic expectations of early analysis.
- The implications for policy and challenges for policymakers.
Key OutputsGreat Expectations: The cost of offshore wind in UK waters – understanding the past and projecting the future