Giant fall in generating costs from offshore wind

Auction programmes in Netherlands and Denmark, in which developers bid for projects at the lowest electricity price they can offer, have added major impetus to the downward path of costs in offshore wind, according to Bloomberg New Energy Finance. Its latest study of levelised cost of electricity, or LCOE, for all the renewable and fossil fuel generating technologies puts the benchmark (weighted average) estimate for offshore wind globally at $126 per megawatt-hour in the second half of 2016. This is down 22% from H1 2016, and 28% from H2 2015. ….