Tuesday, February 7, 2017

Update on offshore wind

For years I've been telling my Resource Econ class that offshore wind just isn't economic. I hadn't been able to find any cost estimates since the EIA posted these in 2011:

With Offshore looking like it costs three times the price of onshore wind, it didn't seem to make much sense. However, the tech seems to have improved over the past five years. (Go engineers!) This NYT article says that costs on one project were as low as 78 Euros/MWh or about $83. Wow! That's quite an improvement. If those costs are sustainable, i.e. not just building costs but maintenance costs and all, that could be huge. Some good news in bleak times for clean energy....

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