Fifty-five innovations that could help reduce the levelised cost of energy from floating offshore wind have been identified in a report produced by InnoEnergy and BVG Associates.
The joint report, Floating Offshore: 55 technology innovations that will have greater impact on reducing the cost of electricity from European floating offshore windfarms, is a companion to a previous report published by InnoEnergy in November 2017.
The analysis has been expanded, extended and updated to cover innovations relevant for floating offshore wind sites, as well as previously identified innovations that are relevant to both fixed and floating offshore wind. It is based on extensive fresh engagement with industry.
The purpose of these cost models developed by InnoEnergy is to explore and track the impact of innovations on the levelised cost of energy (LCOE) in a consistent way across the four technologies. The 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 windfarms up to 2030.
InnoEnergy renewables technology officer Emilien Simonot said “We know that there is tremendous potential across the value chain for innovations to reduce the cost of floating offshore wind energy.
“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.”
BVG Associates associate Kate Free said, “Innovation is thriving throughout the wind energy industry, but it is 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 is available for download.