Offshore Wind Technology Data Update (2019) [Slides]

Abstract

s (NREL's) internal offshore wind database, which is built on internal research and a wide variety of data sources, including peer-reviewed literature, press releases, industry news reports, manufacturer specification sheets, and global offshore wind project announcements. For the database, NREL has verified and sourced data from the following publications:• The 4C Offshore Wind Database (4C Offshore 2020) • Bloomberg New Energy Finance (BNEF) Renewable Energy Project Database (BNEF 2020) • 4C Offshore Vessel Database (4C Offshore 2020) • Wood Mackenzie Wind Turbine Trends (Wood Mackenzie 2020). • Link to 2019 Data Table NREL | 5 Scope and Pipeline Definitions• This work defines the offshore wind project pipeline as potential offshore wind development indicated by developer announcements or by areas made available for offshore wind development by regulatory agencies. • The scope of this report covers the global fleet of projects in the pipeline through December 31, 2019. • This report also covers recent developments and events in the United States through March 31, 2020, projects that have been completed before March 31, 2020, and selectively covers significant industry events through August 2020. • Any estimates of capacities and project dates are shown as reported by project developers or state/federal agencies. • All dollar amounts are reported in 2019 U.S. dollars, unless indicated otherwise.• In this analysis, the U.S. pipeline capacity includes the sum of project-specific capacities and the undeveloped lease area potential capacities based on a project density of 3 megawatts (MW)/km 2 . • For further discussion on methodology and data sources, please refer to the "2018 Offshore Wind Technologies Market Report" (Musial et al. 2019).

A flexibility-based approach for the design and management of floating offshore wind farms

“…Figure 8 shows the average LCOE as a function of the flexibility range. The average LCOE values vary between 65 and 95 €/M W h, which is similar to the values described in the most recent technical reports [43,44]. It can be observed that the lowest LCOE is produced by the unchangeable system (case (iv)) followed by Strategy B and the baseline case.…”

“…Again, the parameters of the variables used in the example are summarized in Table 11. Function cf (t) represent a rapidly oscillating tendency between typical values reported in the literature [42,43,44]. The increment in the uncertainty over time is a modeling decision that attempts to capture the difficulty of predicting for such long time periods.…”

Wind power costs driven by innovation and experience with further reductions on the horizon

“…Historical trends in the cost of wind energy have been driven by changes in the main components of LCOE: energy production, capital costs, operating costs, cost of financing, and lifetime (Blanco, 2009; Short et al, 1995) (Sidebar 2). Several research entities and consultancies collect historical data on LCOE components, such as CapEx, OpEx, capacity factor, cost of financing, and project lifetimes for various countries (IEA Wind Task 26, 2020; Wiser, Bolinger, et al, 2020, Musial et al, 2020; Wood MacKenzie, 2019; IRENA, 2020; Lazard, 2020; BNEF, 2020; Vieira et al, 2019; Ioannou et al, 2018; Kost et al, 2018; Durstewitz et al, 2017; Wallasch et al, 2019; Wiser & Bolinger, 2019c; Wiser et al, 2019; Hamilton et al, 2020; Staffell & Green, 2014). Energy production is influenced by the site‐specific wind resource as well as technical design choices such as specific power 4 .…”

“…The global average LCOE for offshore wind in 2019 was $115/MWh, more than twice the 2019 LCOE for onshore wind (IRENA, 2020). To date, worldwide floating offshore wind installations are limited to 13 projects, representing 84 MW of capacity (Musial et al, 2020). Estimated LCOE for commercial‐scale floating projects in 2019 ranged between $95/MWh and $175/MWh, with significant reductions expected as the industry develops (Beiter et al, 2020; Musial et al, 2020).…”

“…The introduction of competitive tender schemes coincided with a 65% decrease in bid prices for tenders held in Denmark from 2010 to 2016 and in the UK from 2013 to 2017 (Telsnig & Vazquez Hernandez, 2019). In the United States, competitive power purchase agreements and offshore wind renewable energy certificates have been the primary procurement mechanisms for offshore wind, which have led to levelized, adjusted strike prices similar to those observed in Europe (Beiter et al, 2020; Musial et al, 2020).…”