Levelised cost of energy from Europe's offshore wind farms could drop drastically if improved technical measures implemented, concludes new report
The levelised cost of energy from offshore wind farms in Europe could be reduced by as much as a third by 2030 if a range of technological innovations such as larger turbines and more efficient rotors are deployed.
That is the conclusion of a new report released last week by sustainable energy technology investor KIC InnoEnergy and technical consultancy BVG Associates. The study used used KIC InnoEnergy's offshore wind cost model to analyse the extent to which 51 innovations could help cut the cost of wind energy through changes to design, hardware, software or processes.
The changes included the introduction of mass-produced support structures for use in deeper water with larger turbines, using bespoke vessels and equipment capable of operating in a wider range of conditions, and the use of more upfront investment in wind farm development to improve site investigations and engineering studies.
"We know that there is a tremendous potential across the value chain for offshore wind innovations to reduce the cost of energy in the future," said Emilien Simonot, renewables technology officer at KIC InnoEnergy, in a statement.
Two-thirds of the estimated cost savings were found to be achievable through just nine areas of innovation, such as improvements in blade aerodynamics and optimising the layout of arrays. The innovation with the largest potential impact on cost reduction was increasing turbine size from 4MW to 10MW, the analysis found, since using fewer turbines leads to significant savings in the cost of foundations, construction, and operations.
Kate Freeman, a junior associate at BVG Associates, said while innovation is thriving throughout the wind energy industry, it is also important to take a system wide view to examine which areas will have the greatest impact on reducing the levelised cost of energy.
The report follows an analysis released last week by renewable energy consultants MAKE which concluded 140GW of wind energy capacity is set to be added across Europe by 2025, thanks to planned developments and pressure by governments to meet EU renewable targets.
However, a separate report released last week by industry body WindEurope also warned Europe could risk losing its competitiveness in the wind energy sector if it fails to implement more ambitious policies to boost investor confidence.
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