Offshore wind power cost could fall one third by 2020
The cost of offshore wind power could be cut by almost a third by the end of the decade, a new report has revealed.
The findings by the Offshore Wind Cost Reduction Task Force build on a study by The Crown Estate, which shows how reductions can be achieved and sets out specific actions to drive costs down. These include introducing bigger turbines, mass-producing the deep water foundations the turbines need, involving suppliers earlier on and improving wind farm designs.
The report also calls for greater competition in the supply and installation of turbines and foundations from within the UK, Europe and the Far East.
Energy Minister Charles Hendry said: "Offshore wind will be a vital part of a diverse and secure low carbon energy mix in the decades ahead. But we are clear that the costs must come down."
Hendry said he was encouraged by the report's findings and pledged to work with industry to deliver the ambitious targets.
