Purpose
The purpose of this study is to identify Offshore Wind Energy (OWE) as a key technology that could drive countries toward achieving climate goals. However, there are multiple challenges that this sector faces.
Design/methodology/approach
This study aims to identify the challenges faced by the sector globally by systematically reviewing the existing literature in global context and portraying it in the Indian context. Factors are identified using content analysis.
Findings
Results suggest high levelized cost of energy as the most discussed challenge for the growth of OWE. Insufficient financial support and policy, initial capital and inadequate technology formed the second, third and fourth most discussed challenges respectively.
Research limitations/implications
To reduce the cost of OWE, the distribution companies in India could adopt feed-in tariffs (FiTs) in the early stages of development and make OWE procurement mandatory. The renewable purchase obligation (RPO) in India is specific to solar and non-solar; policy should accommodate offshore wind-specific RPO targets for each state to reach the 2030 target of 30 GW from OWE.
Practical implications
To the best of the authors’ knowledge, this is the first attempt to study the challenges of OWE development from a global perspective and portray these major challenges in the Indian context and uses content analysis from the existing literature to ascertain the major roadblocks for the development of OWE.
Originality/value
The study identifies the unexplored gap in literature that includes futuristic challenges for OWE from climate change. Future studies can explore the possibilities of forecasting based on climate change scenarios and rank the challenges based on their relevance caused by possible damages.
