NewEnergyNews: Offshore Wind Price Can Beat UK Market

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  • TODAY AT NewEnergyNews, October 16:

  • ORIGINAL REPORTING: Securitization fever: Renewables advocates seize a Wall Street way to end coal

    Friday, February 01, 2019

    Offshore Wind Price Can Beat UK Market

    Offshore wind could become UK's cheapest form of renewable energy

    David Foxwell, 29 January 2019 (Offshore Wind Journal)

    “…Currently, onshore wind is one of the cheapest sources of renewable power…[But without changes to planning restrictions,] offshore wind is likely [within 10 years] to surpass onshore wind power as the new source of cheap renewable energy…Offshore wind has seen significant innovations, such as larger turbines with longer blades, allowing it to capture more wind…The projections are based on capital costs by technology, fixed and variable operational costs, expected hurdle rates and locational factors such as transmission losses and connection fees, using current load factors for offshore wind at 58.4% and onshore wind at 38%...

    …With 8-MW models currently being deployed and larger 10-MW and 12-MW models under development, economies of scale will inevitably see [offshore wind] costs fall…LCOE energy savings of between £4MWh (US$5MWh) and £7MWh were possible with tip height and rotor diameter optimisation for onshore wind. The latest turbine specifications claim to improve load factors by as much as 26%...[But with restrictions on onshore wind turbine height,] projects will be unable to take advantage of these improvements to reduce costs…” click here for more

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