Offshore wind could undercut onshore on levellised cost of energy (LCOE) inside 10 years in the UK, as current government planning restrictions hold back land-based projects and ever larger turbines are developed for at-sea power production, according to new research from UK consultancy Cornwall Insights.
Based on projections dovetailing capital costs, fixed and variable operational costs, expected hurdle rates and “locational factors” including transmission losses and connection fees and using the current load factors for sea-borne wind at 58.4%
