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In the reference projects included, the cost of fixed bottom offshore wind park electricity is estimated to be 91 €/MWh and floating wind power to 140 €/MWh. Compared to electricity from large scale land-based wind parks and solar photovoltaic parks, offshore wind electricity is more expensive.
Aiming to offer a comprehensive representation of the existing literature, a multidimensional systematic analysis is presented to explore the technical feasibility of delivering diverse services utilizing distinct energy storage technologies situated at various locations within an HVDC-connected offshore wind farm.
The long-term cost trajectory of offshore wind energy is driven by the learning rate, which captures cost reductions from increased efficiency, learning by doing, technology innovations, and maturing supply chains.
We assume that floating offshore wind energy projects will reach commercial scale (and cost levels) during the early- to mid-2030s based on global market data. Therefore, we present floating offshore wind energy costs from 2030.
