Future renewable energy costs: offshore wind

How technology innovation is anticipated to reduce the cost of energy from European offshore wind farms KIC InnoEnergy is developing credible future technology cost models for four renewable energy generation technologies using a consistent and robust methodology. The purpose of these cost models is to enable the impact of innovations on the levelised cost of energy (LCOE) to be explored and tracked in a consistent way across the four technologies. While the priority is to help focus on key innovations, credibility comes with a realistic overall LCOE trajectory. This report examines how technology innovation is anticipated to reduce the cost of energy from European offshore wind farms over the next 12-15 years.