True Cost of Offshore Wind Energy
YouTube text:
In the quest for clean energy, offshore wind stands out – not just for its towering turbines which are already as tall as the Eiffel tower and set to grow further, but offshore wind also stands out for its surprising economics. Despite being about twice as expensive as its onshore counterpart, offshore wind is riding a wave of rapid global expansion. What drives this surge in investment towards seemingly pricier energy? In this video we’ll navigate the depths of offshore wind. We’ll uncover the innovations making these titanic turbines possible, explore why their energy is more prized, and dive into the tumultuous waters of 2023 that nearly capsized the industry. Can offshore wind chart a course towards a more sustainable horizon? Let’s set sail to find out.
Bookmarks:
00:00 Intro
00:54 How do turbines need to be changed to suit offshore environment?
01:24 Different types of support structure for offshore environment
03:39 Size
04:58 Corrosion
05:29 Reliability
06:05 Advantages & Cost Offshore Wind
07:13 Levelized Cost of Electricity (LCOE) of Offshore Wind
08:09 Offshore Wind in Denmark
09:27 Non-financial benefits of Offshore Wind
10:39 Value of Offshore Wind – Complementary Generation Profiles
11:21 Matching Generation with Demand
11:43 Offshore Wind in New York
12:08 Offshore Wind in Western Australia
12:51 Offshore Wind Crisis
Note: this is US data, in Europe the picture for the cost of offshore wind is, em, rosier.
[lazard.com] – 2023 Levelized Cost Of Energy+
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