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The 2018 worldwide levelized cost of electricity (LCOE) for offshore wind was $134/MWh (https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2019/Oct/IR
by rfrey 6y ago
The 2018 worldwide levelized cost of electricity (LCOE) for offshore wind was $134/MWh (https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2019/Oct/IRENA_Future_of_wind_2019.pdf https://www.irena.org/-/media/Files/IRENA/Agency/Publication...).
- Schiendelman 6y agoThat number isn’t useful for comparing options for new construction.
- rfrey 6y agoLCOE is the best number for comparing new construction options. What alternative do you propose?
- Schiendelman 6y agoYou used a 2018 number when the 2020 number is vastly lower. You have to use up to date information - and you have to pay attention to trends, since nuclear takes a decade or more to install.
- bildung 6y agoYou're correct, I misread Norways wind LCoE of 44€/MWh as offshore, though it was onshore. The publication you linked projects a 44% cost reduction until 2025, though. Given UK's listed offshore LCoE of $125 in 2018, that would be $70/MWh for the UK. The trend looks linear, but if we conservatively assume it only falls at half the rate after 2025, it will be at $51/MWh once the first Rolls-Royce plants come online in ten years.
- toomuchtodo 6y ago> The 2018 worldwide levelized cost of electricity (LCOE) for offshore wind was $134/MWh It's closer to $86/MWh in 2020. [1] [1] https://www.lazard.com/media/451419/lazards-levelized-cost-of-energy-version-140.pdf https://www.lazard.com/media/451419/lazards-levelized-cost-o... (PDF, slide 3, center of page)