Article (Scientific journals)
Offshore wind competitiveness in mature markets without subsidy
Jansen, Malte; Staffell, Iain; Kitzing, Lena et al.
2020In Nature Energy
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Abstract :
[en] Offshore wind energy development has been driven by government support schemes; however, recent cost reductions raise the prospect of offshore wind power becoming cheaper than conventional power generation. Many countries use auctions to provide financial support; however, differences in auction design make their results difficult to compare. Here, we harmonize the auction results from five countries based on their design features, showing that offshore wind power generation can be considered commercially competitive in mature markets. Between 2015 and 2019, the price paid for power from offshore wind farms across northern Europe fell by 11.9% per year. The bids received in 2019 translate to an average price of 51 EUR/MWh, and substantially different auction designs have received comparably low bids. The level of subsidy implied by the auction results depends on future power prices; however, projects in Germany and the Netherlands are already subsidy-free, and it appears likely that in 2019 the United Kingdom will have auctioned the world's first negative-subsidy offshore wind farm.
Disciplines :
Business & economic sciences: Multidisciplinary, general & others
Author, co-author :
Jansen, Malte
Staffell, Iain
Kitzing, Lena
Quoilin, Sylvain  ;  Université de Liège - ULiège > Département d'aérospatiale et mécanique > Département d'aérospatiale et mécanique
Wiggelinkhuizen, Edwin
Bulder, Bernard
Riepin, Iegor
Müsgens, Felix
Language :
Title :
Offshore wind competitiveness in mature markets without subsidy
Publication date :
Journal title :
Nature Energy
Publisher :
Springer Nature, London, United Kingdom
Peer reviewed :
Peer Reviewed verified by ORBi
Available on ORBi :
since 28 July 2020


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