NewEnergyNews: EU OCEAN WIND TO CUT COSTS, KEEP GROWING

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    Friday, November 21, 2014

    EU OCEAN WIND TO CUT COSTS, KEEP GROWING

    Offshore wind industry races to cut costs as subsidies drop

    Christoph Steitz and Geert De Clercq with Pravin Char, November 17, 2014 (Reuters)

    “…Britain, Germany and the Netherlands, wary of committing billions of euros when budgets are tight, have announced subsidy cuts in the past 18 months - a blow to the European offshore wind industry which [provides 1$ of European electricity and] employs nearly 60,000 people…[The European Wind Energy Association (EWEA) has reduced] its forecasts for installed offshore capacity in Europe to about 25 gigawatts (GW) by 2020 [about 3% of Europe’s electricity], from a 2009 forecast for 40 GW, still more than triple current capacity of about 7 GW…[U]tilities remain keen to invest…[in] the fastest-growing power technology in Europe…Unlike onshore farms, marine parks face less opposition from civil groups…[and] turn about 42 percent of the time, about double the ‘load factor’ onshore…[But] offshore parks [cost about 125 euros per megawatt hour (MWh), versus 80 euros for onshore wind,] and as the industry seeks to weather the subsidy cuts until investments pay off, companies are desperately seeking to reduce construction costs by building bigger, more efficient turbines and finding cheaper ways to construct foundations…” click here for more

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