How did the cost of offshore wind come down?
Imagine a power station far out at sea, capturing the wind around our coastline and bringing it to shore as clean electricity – no carbon emissions or air pollution – that’s offshore wind. The Carbon Trust is delighted to see the latest CFD results and proud of the role the Offshore Wind Accelerator has played in making them possible. In the last two years the strike price for offshore wind has halved. This level of cost reduction is due to a number of factors, but most importantly the adoption and realisation of innovative technology, many of which have been developed and supported through the Offshore Wind Accelerator.
For nearly a decade the Carbon Trust has clubbed together with nine leading companies, over 100 engineers and government, investing over £80m to demonstrate potential cost savings in key areas including foundations, high voltage cables, electrical systems, access in high seas and wind measurement. Through collaboration, the Offshore Wind Accelerator has enabled shared cost and risk and the lessons learnt have contributed towards CFD bids which have smashed all expectations – no magic wand, just a great result.