Market Report

Global bottom-fixed offshore wind LCOE 2019-2028

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About the report

Wood Mackenzie has carried out an LCOE assessment for global bottom-fixed offshore wind farms commissioned between 2019 and 2028. Based on our assessment, the average global LCOE for bottom-fixed offshore wind will halve between 2019 and 2028, reaching US$66/MWh. Global offshore wind markets are transitioning into tender schemes, which has intensified competition amongst developers and in turn will catalyse LCOE reduction below power prices in the mature offshore wind markets to 2023. This report provides the LCOE forecast through 2028 for global offshore wind markets, including insight analysis on established and emerging key markets around the world.

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About the analysts

Shimeng Yang joined Wood Mackenzie in 2018 as an Offshore Senior Research Analyst. She is based in our London office and is responsible for the global offshore wind market research including supply chain, asset ownership, operation and maintenance, and cost assessment. Her particular expertise is in global offshore wind cost assessment and operational and maintenance strategy.

Søren Lassen is a Research Analyst at Wood Mackenzie Power & Renewables. He covers supply chain, technology, operations and maintenance, and asset ownership dynamics across the global offshore wind industry as well the offshore wind market outlook in Europe.

About the service

The report is part of our Offshore Wind Service.

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