Floating offshore wind costs could tumble to €40-€60 a megawatt-hour by 2030 from €180-€200MWh currently, if developed at scale, according to a new report from WindEurope.
The ‘Floating Offshore Wind Energy: A Policy Blueprint For Europe’ report said costs could fall faster than for bottom-fixed offshore wind farms with the “right visibility in terms of volumes and industrialisation”.
WindEurope said that dedicated policies are needed to ensure that Europe stays at the forefront of floating wind technology.
The report calls for national governments to outline floating wind capacity ambitions in National Energy and Climate Plans to 2030.
It also recommends developing ways to provide low-cost financing for floating projects and increasing research and innovation funding with a focus on cost competitiveness.
WindEurope said: “The right policy measures could permit a large-scale commercialisation of floating offshore wind.
“As demonstrated this last decade with bottom-fixed offshore wind, speeding up the commercialisation process means driving down costs and contributing to European competitiveness.”