Offshore wind’s levelized cost of electricity (LCOE) has fallen 24% since H1 2018, according to BloombergNEF (BNEF). The report also found that the average LCOE for offshore wind projects in 2018 was $0.02/kWh, down from $0.16/kWh a year earlier. This is expected to open up new opportunities for the batteries to balance a renewables-heavy generation mix. Five years ago, it stood at $220 per MWh. BNEF cited offshore wind auctions as the reason for the falling price, together with significantly bigger turbines.
Offshore wind’s levelized cost of electricity (LCOE) has fallen 24% since H1 2018, according to BloombergNEF (BNEF). The report also found that the average LCOE for offshore wind projects in 2018 was $0.02/kWh, down from $0.16/kWh a year earlier. Five years ago, it stood at $220 per MWh. BNEF cited offshore wind auctions as the reason for the falling price, together with significantly bigger turbines.