Offshore wind costs to fall over next decade

29.06.11

A report published today by RenewableUK shows that the overall cost of generating energy from offshore wind is set to fall significantly over the next ten years.

"Offshore Wind – Forecasts of Future Costs and Benefits", predicts that overall costs for the technology will fall by 15% over the next ten years, with a 33% reduction possible in the long-term.

Plus improved technology will allow those costs to extend further, in terms of where it can be built, and how efficiently it generates power.

Maria McCaffery, Chief Executive of RenewableUK, said:

"We know the costs of offshore wind are too high. The industry is committed to driving down the cost of offshore wind energy. But this will need a large enough market to promote competition and drive innovation. Working with the government we can deliver 20GW by 2020 if costs fall".

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