Overview
The Offshore Wind Cost Reduction Pathways study for The Crown Estate marked a turning point for the offshore wind industry. It is one of the most comprehensive and influential assessments of future offshore wind costs ever published.
We conducted extensive engagement across the offshore wind sector. This was essential in capturing a shared industry vision of how the cost of energy could be reduced. The study included detailed benchmarking, cost modelling. and the identification and evaluation of numerous technological and supply chain innovations.
The Cost Reduction Pathways was recognised for its rigour and clarity. They continue to be referenced by industry leaders. The study provided a foundation for embedding cost reduction into planning and investment.
Key challenges
- Complexity of mapping future cost trajectories in a rapidly evolving industry
- Accuracy required detailed data, deep sector insight, and a strong collaborative approach
- Achieving industry alignment on what constituted realistic and impactful innovation
- Study demanded a high level of technical sophistication in both its qualitative and quantitative components
Key impact
- Played a major role in shifting the culture of the offshore wind sector
- Moved cost reduction from a peripheral concern to a central strategic priority
- Enabled more confident decision-making by developers, investors, and policymakers
- Shaped policy discussions, underpinned investment strategies, and guided the design of future offshore wind programmes
- Crown Estate manager said our contribution through the Cost Reduction Pathways was “fundamental” to delivering “one of the most influential studies that we have published for this sector”
BVGA team
Bruce Valpy
