The Ernst & Young study, Offshore Wind in Europe: Walking the Tightrope to Success, highlights four “key actions” to reduce costs:
*Deploying larger turbines to increase energy capture (a 9% saving)
*Encouraging greater competition (7%)
*Commissioning new projects (7%)
*Tackling supply-chain challenges (3%)
The report expects the sector to have nearly reduced the levelised cost of energy to €100 per MWh by 2020, by which time cumulative installed capacity in European waters is expected to have tripled to 23.5GW.
