02.05.2024,
2168 Zeichen
London (ots/PRNewswire) - The latest insights briefing from the
Energy Transitions Commission, Overcoming Turbulence in the Offshore
Wind Sector, highlights the need for governments and the offshore
wind industry to join forces to restore confidence in the market,
drive down costs and accelerate the clean energy transition. The
ETC's membership includes offshore wind industry players: bp,
Iberdrola, Octopus Energy, Petronas, Shell, SSE, and Vattenfall.
Offshore wind is already delivering large-scale clean electricity at
a competitive cost around the world. In Western Europe, costs fell
60% between 2015-2022. Installations are growing rapidly. From 2015
to 2023, global capacity has expanded sixfold from 12 to 74 GW,
already producing energy for around 90 million households, and with
vast potential to scale further.
But in 2022-2023, inflation, supply chain bottlenecks, and higher
interest rates led to rising offshore wind costs in some markets. A
perceived offshore wind "crisis" ensued, in the UK and US markets in
particular, as many projects and contracts were cancelled.
While increases were significant, they're mostly expected to be
short-term. Costs in Western markets are already coming back down as
most drivers were temporary in nature (e.g., supply chain bottlenecks
due to COVID, a 200% increase in steel costs), although the increase
in cost of finance may remain over the medium term. Meanwhile,
technological progress and large-scale production drove consistent
cost reductions in China over the same period, illustrating that
offshore wind can be even cheaper and more competitive in the future.
"Offshore wind is vital for the clean energy transition. It can
generate electricity when the sun isn't shining and doesn't compete
for land use. Now is a critical period to rapidly accelerate wind
capacity if the world is to achieve net-zero emissions by
mid-century. Governments should act now to restore market confidence
by setting ambitious offshore wind targets and design auctions and
contracts which provide market certainty and drive costs down." –
Adair Turner, Chair, Energy Transitions Commission
Digital press kit:
http://www.ots.at/pressemappe/PR148324/aom
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