- Published: 03 October 2016 03 October 2016
KIC InnoEnergy and BVG Associates, have launched a joint report, ‘Future renewable energy costs: offshore wind.’ The report assesses how technology innovation could reduce the cost of energy from European offshore wind farms.
Over 50 innovations were highlighted in the report as having the potential to make a substantial reduction in the levelised cost of energy (LCOE) through changes to design, hardware, software or process. It was found that the technologies could reduce the LCOE by a third by 2030. Two-thirds of the anticipated impact on the LCOE is shown to be achievable through nine areas of innovation, the largest of which is the increase in turbine size from 4MW to 10MW. By having fewer turbines, significant savings can be achieved in the cost of foundations and construction, and in operational expenditure.