Global offshore wind revenue dynamics 2021

With the expanding offshore wind industry, the average global LCOE of offshore wind will drop by 53% towards 2025 compared to the 2014 level. However, the revenue/MWh reductions have outpaced LCOE reductions, dropping 66% over the same period. This trend is challenging offshore wind project investment returns. This report looks into the dynamics of all forms of subsidies - such as investment aid, operational aid, tax credit and indirect capital investment support - that have been implemented into the offshore wind sector globally. It provides an overview of the trend of revenue/MWh awarded to offshore wind projects from 2010 to 2029. The report also covers global and regional revenue/MWh change over time, as well as subsidy schemes evolving in key markets globally.