{"id":10846,"date":"2020-05-26T20:09:13","date_gmt":"2020-05-26T20:09:13","guid":{"rendered":"http:\/\/2035report.com\/offshorewind\/?page_id=10846"},"modified":"2023-07-24T20:53:16","modified_gmt":"2023-07-24T20:53:16","slug":"falling-offshore-wind-costs","status":"publish","type":"page","link":"https:\/\/2035report.com\/offshorewind\/falling-offshore-wind-costs\/","title":{"rendered":"Falling Offshore Wind Costs"},"content":{"rendered":"<p>[vc_row][vc_column]\n\t\t\t\t<p class=\"rs-p-wp-fix\"><\/p>\n\t\t\t\t<sr7-module data-alias=\"banner-2\" data-id=\"4\" id=\"SR7_4_1\" data-version=\"7.0.10\">\n\t\t\t\t\t<sr7-adjuster><\/sr7-adjuster>\n\t\t\t\t\t<sr7-content>\n\t\t\t\t\t\t<sr7-slide id=\"SR7_4_1-4\" data-key=\"4\">\n\t\t\t\t\t\t\t<sr7-bg id=\"SR7_4_1-4-1\" class=\"sr7-layer\"><noscript><img decoding=\"async\" src=\"https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2020\/06\/renewable_energy_header_key_finding_1.jpg\" alt=\"\" title=\"renewable_energy_header_key_finding_1\"><\/noscript><\/sr7-bg>\n\t\t\t\t\t\t<\/sr7-slide>\n\t\t\t\t\t\t<sr7-slide id=\"SR7_4_1-20\" data-key=\"20\">\n\t\t\t\t\t\t<\/sr7-slide>\n\t\t\t\t\t<\/sr7-content>\n\t\t\t\t\t<image_lists style=\"display:none\">\n\t\t\t\t\t\t<img data-src=\"\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2020\/06\/renewable_energy_header_key_finding_1.jpg\" data-libid=\"11388\" data-lib=\"medialibrary\" title=\"renewable_energy_header_key_finding_1\" width=\"0\" height=\"0\" data-dbsrc=\"Ly8yMDM1cmVwb3J0LmNvbS9vZmZzaG9yZXdpbmQvd3AtY29udGVudC91cGxvYWRzLzIwMjAvMDYvcmVuZXdhYmxlX2VuZXJneV9oZWFkZXJfa2V5X2ZpbmRpbmdfMS5qcGc=\"\/>\n\t\t\t\t\t<\/image_lists>\n\t\t\t\t<\/sr7-module>\n\t\t\t\t<script>\n\t\t\t\t\twindow.SR7??={}; SR7.PMH ??={}; SR7.PMH[\"SR7_4_1\"] = {cn:100,state:false,fn: function() { if (window._tpt!==undefined && window._tpt.prepareModuleHeight !== undefined) {  _tpt.prepareModuleHeight({id:\"SR7_4_1\",el:[575,575,768,960,720],type:'hero',gh:[575,575,475,361,223],gw:[1240,1240,1024,778,480],vpt:['-100px'],size:{fullWidth:true, fullHeight:false},mh:'0',onh:0,onw:0,bg:{color:'{\"orig\":\"transparent\",\"type\":\"solid\",\"string\":\"transparent\"}'},plType:'0',plColor:'#FFFFFF'});   SR7.PMH[\"SR7_4_1\"].state=true;} else if(SR7.PMH[\"SR7_4_1\"].cn-->0)\tsetTimeout( SR7.PMH[\"SR7_4_1\"].fn,19);}};SR7.PMH[\"SR7_4_1\" ].fn();\n\t\t\t\t<\/script>\n[\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/6&#8243;][\/vc_column][vc_column width=&#8221;2\/3&#8243;][vc_empty_space height=&#8221;40px&#8221;][vc_custom_heading text=&#8221;OFFSHORE WIND CAN HELP KEEP ELECTRICITY COSTS DOWN&#8221; font_container=&#8221;tag:h1|font_size:30|text_align:center|color:%237eaec4&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_empty_space height=&#8221;10px&#8221;][vc_custom_heading text=&#8221;By integrating offshore wind into the U.S. power grid, we can bring energy costs down and keep electricity affordable.&#8221; font_container=&#8221;tag:h2|font_size:18|text_align:center|color:%237eaec4|line_height:1.5&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_empty_space height=&#8221;20px&#8221;][vc_column_text]<\/p>\n<h3><strong>Here\u2019s how offshore wind can meet the U.S. Clean Electricity Needs:<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Offshore wind costs have dropped rapidly over the past few years, and the Department of Energy (DOE) forecasts prices to fall $53\/MWh by 2035, cheaper than the levelized cost of a new combined cycle gas plant or coal plant, and on par with existing solar and wind projects.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a result of improved performance and falling costs, wholesale electricity costs (the cost of generation plus new transmission) are comparable in all Offshore Wind Policy scenarios.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wholesale electricity costs in the High Ambition scenario, in which the nation deploys 750 GW of offshore wind by 2050, are just 2.2% higher in 2035 than a Baseline scenario with minimal offshore wind deployment and .25% higher than Baseline in 2050. Wholesale electricity costs in the Low and Medium Ambition offshore wind scenarios are both lower than Baseline in 2050.\u00a0\u00a0\u00a0<\/span><\/p>\n<div id=\"attachment_11790\" style=\"width: 2020px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-11790\" class=\"wp-image-11790 size-full\" src=\"https:\/\/2035report.com\/offshorewind\/http:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/offshore_wind_LCOE.png\" alt=\"\" width=\"2010\" height=\"1358\" srcset=\"https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/offshore_wind_LCOE.png 2010w, https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/offshore_wind_LCOE-300x203.png 300w, https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/offshore_wind_LCOE-1024x692.png 1024w, https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/offshore_wind_LCOE-768x519.png 768w, https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/offshore_wind_LCOE-1536x1038.png 1536w\" sizes=\"auto, (max-width: 2010px) 100vw, 2010px\" \/><p id=\"caption-attachment-11790\" class=\"wp-caption-text\">NREL Annual Technology Baseline Advanced cost projections for years 2015, 2017, and 2022. Levelized cost of electricity for selected offshore wind projects in China, Taiwan, United States, United Kingdom, and Germany. All project costs are in $ 2020 real. Data Source: BNEF, 2022<\/p><\/div>\n<p>&nbsp;<\/p>\n<div id=\"attachment_11791\" style=\"width: 1334px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-11791\" class=\"wp-image-11791 size-full\" src=\"https:\/\/2035report.com\/offshorewind\/http:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/wholesale-electricity-cost.png\" alt=\"\" width=\"1324\" height=\"514\" srcset=\"https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/wholesale-electricity-cost.png 1324w, https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/wholesale-electricity-cost-300x116.png 300w, https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/wholesale-electricity-cost-1024x398.png 1024w, https:\/\/2035report.com\/offshorewind\/wp-content\/uploads\/2023\/07\/wholesale-electricity-cost-768x298.png 768w\" sizes=\"auto, (max-width: 1324px) 100vw, 1324px\" \/><p id=\"caption-attachment-11791\" class=\"wp-caption-text\">Wholesale electricity costs ($\/MWh) (generation plus new transmission) in Baseline and Offshore Wind Policy scenarios using NREL ATB Moderate costs, 2040-2050.<\/p><\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/6&#8243;][\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"ult-spacer spacer-6a14e2cd9c181\" data-id=\"6a14e2cd9c181\" data-height=\"100\" data-height-mobile=\"40\" data-height-tab=\"\" data-height-tab-portrait=\"\" data-height-mobile-landscape=\"40\" style=\"clear:both;display:block;\"><\/div>[\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/6&#8243;][\/vc_column][vc_column width=&#8221;2\/3&#8243;][vc_empty_space height=&#8221;40px&#8221;][vc_custom_heading text=&#8221;OFFSHORE WIND CAN HELP KEEP ELECTRICITY COSTS DOWN&#8221; font_container=&#8221;tag:h1|font_size:30|text_align:center|color:%237eaec4&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_empty_space height=&#8221;10px&#8221;][vc_custom_heading text=&#8221;By integrating offshore wind into the U.S. power grid, we can bring energy costs down and keep electricity affordable.&#8221; font_container=&#8221;tag:h2|font_size:18|text_align:center|color:%237eaec4|line_height:1.5&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_empty_space height=&#8221;20px&#8221;][vc_column_text] Here\u2019s how offshore wind can meet the U.S. Clean Electricity Needs: Offshore wind costs have dropped rapidly over [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page.php","meta":{"rs_blank_template":"","rs_page_bg_color":"","slide_template_v7":"","footnotes":""},"class_list":["post-10846","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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