Competitive bidding pushes down offshore wind cost – BNEF

The cost of offshore wind power fell by 22% in the second half of 2016 supported by auctioning programmes in the Netherlands and Denmark, Bloomberg New Energy Finance (BNEF) said on Tuesday.

The analysts estimated that the levelised cost of electricity (LCOE) for offshore wind globally was on average $126 per megawatt-hour (MWh). Different energy technologies can be compared using this measure because it accounts for all costs over the lifetime of the power-generating asset, from capital and fuel costs to operating costs.