Cost Reductions for Offshore Wind: Signs of Progress, Expectations for More

The barriers to offshore wind are formidable. Yet, after many years of delays and cost increases, there are signs of progress. Offshore wind bids coming out of Europe suggest that steep cost reductions are at hand; the most recent of those bids, for a 350 MW near-shore project off the coast of Denmark, came in at a record-low of just $67 per MWh. These and other developments hold promise for further cost reductions in the years and decades ahead.

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