The global move to offshore wind farm development is enabling nations to accelerate wind energy adoption while reducing reliance on land-based power grids. Offshore wind turbines are subjected to fiercer winds and require larger turbines than land-based wind initiatives. But these benefits typically can increase the overall cost of offshore manufacturing and maintenance of wind turbines. Capital costs are approximately 30-50% higher than onshore, due to larger machine size and the costs of transporting and installing at sea. These expenses are partially offset by higher energy yields - as much as 30%. But many countries are finding the benefits to offshore outweigh these added expenditures. Offshore wind energy has a reduced effect on the environment and higher wind speeds at sea result in increased energy production.
Leading wind energy producers in Europe, Asia, and the Americas are embracing offshore as an important component of future expansion and adoption of renewable energy use. The first large offshore wind farms are well in development in several European countries. Developing offshore wind can enable these nations to achieve competitive electricity markets, reach a larger degree of energy inde¬pendence, and ensure lower and more predictable overall project costs. This SBI Energy report, Offshore Wind Farm Manufacturing Worldwide explores the revenue generating potential for companies involved in this burgeoning renewable energy area.
Read an excerpt from this report below.
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