The
Floating Offshore Wind: Cost Reduction Pathways to Subsidy-Free study suggests large floating offshore wind projects could secure Contracts for Difference (CfD) strike prices below current wholesale electricity price forecasts as early as 2029.
This would depend on the deployment scenario pursued by the UK.
It also highlights the vital role floating offshore wind will play in the UK’s journey to Net Zero and towards delivering 100GW of offshore wind by 2050.
The study summarises work undertaken as part of the FOW CoE’s Cost Reduction Pathways project, which used GIS mapping software to develop 75GW, 100GW and 150GW offshore wind deployment scenarios to 2050.