Technology innovations that will impact the LCOE in floating offshore wind farms

InnoEnergy and BVG Associates have launched a new joint report, Floating Offshore: 55 technology innovations that will have greater impact on reducing the cost of electricity from European floating offshore wind farms.

The report provides insight into how technology innovation is reducing the cost of energy from European floating  wind farms. It identifies those innovations that will allow floating offshore wind to cost compete with cheaper forms of energy in the future. In the report, over 50 innovations highlighted as having the potential to make a substantial reduction in the levelised cost of energy.

This report considers outputs from the extension of the offshore wind model to floating sites and in particular examines how technology innovation is anticipated to reduce the cost of energy from European floating offshore wind farms up to 2030.

“We know that there is a tremendous potential across the value chain for floating offshore wind innovations to reduce the cost of energy in the future,” says Emilien Simonot, Renewables Technology Officer at InnoEnergy.

“The findings of this report are extremely positive and we are looking forward to working with the floating offshore wind innovations of the future to drive them to commercial success and reduce the LCOE.”

“Innovation is thriving throughout the wind energy industry,” adds Kate Freeman of BVG Associates. “But it’s important when assessing LCOE to take a system wide view. The modelling work we completed with InnoEnergy used our knowledge and experience to identify the areas of innovation that could have greatest impact on LCOE.”

The report was officially launched at the WindEurope Global Wind Summit  in Hamburg, the biggest Wind Energy fair in Europe. Kate Freeman also presented key findings from the report at the Summit on Friday, 28 October, at 15:10.