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Offshore wind – heading for subsidy free

Written by Abdelmonem Achour on . Posted in Maritime news

An independent analysis from BVG Associates, commissioned by Statkraft UK has produced an upbeat forecast of the industry’s future with the prospect of being subsidy-free and competitive with CCGT.

The offshore wind industry is often overwhelmed by louder voices from those decrying the feasibility of the technology, questioning the economics from the consumer’s standpoint while the industry itself is quietly reducing costs. This reporting of good news reveals the industry’s potential, summed up in the first paragraph: “Successive governments have established the UK as the world leader in offshore wind. Levels of deployment in the last few years have set the industry on a path of steep cost reduction and provided a platform for an industry that will be sustainable without special consumer support.”