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Renewable Energy Innovation
Outlook: Offshore Wind
Technology
World Wind Energy Conference and Exhibition (WWEC2016)
31 October 2016
Tokyo, Japan
Introduction to IRENA
• The Intergovernmental Organisation focused on renewable energy
• 149 members countries (including EU) and 28 in process of
accession
The case for offshore wind
• Decarbonisation of energy sector
• By 2030 wind should lead power
capacity
• High capacity factors
• Offshore provides baseload
• Diversify – energy security
Activity at present
Main driver for industry to implement offshore wind energy projects
has been government financial support
More than 90 institutions: RD&D, government and financing
(FR, SP, US, PO, NO, KO, SA)
Offshore wind - historic trends
• Leading: Europe –UK & Germany
• 12.4 GW by 2015
Region Operating offshore wind
capacity in 2015 (GW)
Europe 11.2
Asia 1.2
Rest of the world 0
Offshore wind - historic trends
0
10
20
30
40
50
2000 2005 2010 2015
Waterdepth(m)
Year of commissioning
Europe Asia
Source: BVG
Associates
0
20
40
60
80
100
2000 2005 2010 2015
Distancetoport(km)
Year of commissioning
Europe Asia
Source: BVG
Associates
• Deeper waters
• Farther form the shore
Levelised cost of electricity 2015
• Finance is a key factor
• Need for risk mitigation instruments
Most impactful innovations came from higher rate
capacity wind turbines
• LCOE (2015): 170 $/MWh
Contribution of each wind
farm element to LCOE
Electricity cost reduction elements for
projects commissioned in 2001-2015
2001 – 2015
Innovation made the difference
Turbines
Wind farm design
Installation
Electrical Interconnection
The LCOE challenge
• CAPEX and AEP have the greatest impact on cost of energy
• However efforts in all areas are needed. Innovation does not
cover technology only – innovation in financial instruments,
policies and regulations is essential
Impact of improvement in key parameters on the
cost of energy, based on the cost-of-energy
breakdown for 2015 in this study
2016 – 2045
Innovation will push the market
Expected reduction in LCOE
• 2030: 70 – 120 USD/MWh
• 2045: 50 – 10 USD/MWh
Detailed look on costing up to 2025
New IRENA’s publication on cost reduction for solar and wind power
Download it for free at www.irena.org/publications
Historical offshore wind LCOE by project and projections to
2025
Game changers
Floating foundation can
significantly expand the
market. Three technologies
in development:
• the spar buoy, as the
Hywind concept
developed by Statoil
• semi-submersible, as the
one developed by
Principle Power
• the tension-leg platform,
as Glosten’s PelaStar
Forthcoming fact-sheet: Floating Foundations
Download it for free at www.irena.org/publications
Game changers
Impact of innovations
Market expansion
Forecasted global annual installed and
operating capacity of offshore wind,
2016-2045
2015 – 2045: Market expansion
Thank you very much
for your attention
Contact:
• Francisco Boshell (Fboshell@irena.org)
“Innovation Outlook: Offshore Wind” is
available for free in IRENA’s publications site
or scan the QR code

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Boshell_IRENA Offshore Wind_Tokyo

  • 1. 1 Renewable Energy Innovation Outlook: Offshore Wind Technology World Wind Energy Conference and Exhibition (WWEC2016) 31 October 2016 Tokyo, Japan
  • 2. Introduction to IRENA • The Intergovernmental Organisation focused on renewable energy • 149 members countries (including EU) and 28 in process of accession
  • 3. The case for offshore wind • Decarbonisation of energy sector • By 2030 wind should lead power capacity • High capacity factors • Offshore provides baseload • Diversify – energy security
  • 4. Activity at present Main driver for industry to implement offshore wind energy projects has been government financial support More than 90 institutions: RD&D, government and financing (FR, SP, US, PO, NO, KO, SA)
  • 5. Offshore wind - historic trends • Leading: Europe –UK & Germany • 12.4 GW by 2015 Region Operating offshore wind capacity in 2015 (GW) Europe 11.2 Asia 1.2 Rest of the world 0
  • 6. Offshore wind - historic trends 0 10 20 30 40 50 2000 2005 2010 2015 Waterdepth(m) Year of commissioning Europe Asia Source: BVG Associates 0 20 40 60 80 100 2000 2005 2010 2015 Distancetoport(km) Year of commissioning Europe Asia Source: BVG Associates • Deeper waters • Farther form the shore
  • 7. Levelised cost of electricity 2015 • Finance is a key factor • Need for risk mitigation instruments Most impactful innovations came from higher rate capacity wind turbines • LCOE (2015): 170 $/MWh Contribution of each wind farm element to LCOE Electricity cost reduction elements for projects commissioned in 2001-2015
  • 8. 2001 – 2015 Innovation made the difference Turbines Wind farm design Installation Electrical Interconnection
  • 9. The LCOE challenge • CAPEX and AEP have the greatest impact on cost of energy • However efforts in all areas are needed. Innovation does not cover technology only – innovation in financial instruments, policies and regulations is essential Impact of improvement in key parameters on the cost of energy, based on the cost-of-energy breakdown for 2015 in this study
  • 10. 2016 – 2045 Innovation will push the market
  • 11. Expected reduction in LCOE • 2030: 70 – 120 USD/MWh • 2045: 50 – 10 USD/MWh
  • 12. Detailed look on costing up to 2025 New IRENA’s publication on cost reduction for solar and wind power Download it for free at www.irena.org/publications Historical offshore wind LCOE by project and projections to 2025
  • 13. Game changers Floating foundation can significantly expand the market. Three technologies in development: • the spar buoy, as the Hywind concept developed by Statoil • semi-submersible, as the one developed by Principle Power • the tension-leg platform, as Glosten’s PelaStar Forthcoming fact-sheet: Floating Foundations Download it for free at www.irena.org/publications
  • 16. Market expansion Forecasted global annual installed and operating capacity of offshore wind, 2016-2045
  • 17. 2015 – 2045: Market expansion
  • 18. Thank you very much for your attention Contact: • Francisco Boshell (Fboshell@irena.org) “Innovation Outlook: Offshore Wind” is available for free in IRENA’s publications site or scan the QR code