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Published in:
2017 | OriginalPaper | Chapter
6. Cost Reductions and Innovation in the Offshore Wind Industry
Authors : Rahmatallah Poudineh, Craig Brown, Benjamin Foley
Published in: Economics of Offshore Wind Power
Publisher: Springer International Publishing
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Abstract
Offshore wind is a relatively immature industry which is heavily reliant on government subsidies to grow. In order to survive in an environment where the cost of alternative renewable energies, such as onshore wind and solar, have been rapidly falling, the offshore wind industry must significantly reduce its costs in the coming years. This chapter discusses the issue of cost reduction and innovation in the industry and analyses the opportunities for cost cutting through improving technology, supply chain management, finance, and government support policies.