Looking Ahead: Current Trajectory and Key Uncertainties
Europe’s offshore wind industry has provided evidence of learning curve efficiencies setting in, with project economics (as measured by levelised cost of energy) drastically improving since 2015. Moving towards the end of the decade, the question becomes whether this cost curve trajectory is sustainable and if these efficiencies can be replicated in the emerging offshore wind markets of North America and Asia. This chapter summarises the current trajectory of the offshore wind industry and presents factors affecting it, including policy uncertainty in key markets and the evolution of wholesale power market prices, that could have global ramifications to the industry.
KeywordsOffshore wind Future developments Uncertainties Electricity prices Brexit Trump
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