The Integrator programme has secured support from six major offshore wind farm developers: EnBW, Equinor, RWE, ScottishPower Renewables, Total and Vattenfall who will collaborate on a series of projects over the next year, as part of this first-of-a-kind, developer-led programme in this field. The successful reduction in the levelised cost of energy (LCOE) of offshore wind has contributed to increased deployment in the last decade, particularly in the UK and Europe. The IEA now estimates a 15-fold increase in capacity, leading to US$1 trillion of cumulative investments by 2040. This expected increase in global deployment of offshore wind and other renewable energy technologies will introduce new challenges and opportunities for effective system integration. As with all variable renewable energies, increased deployment results in integration costs to adapt the energy system to balance demand and generation. This cost is currently not captured in standard LCOE figures. The Department for Business, Energy and Industrial Strategy’s latest energy generation cost predictions show that as the LCOE of offshore wind continues to plummet out to 2035, system integration costs become an increasingly significant part of the total cost of offshore wind.
Carbon Trust 3rd Dec 2020 read more »