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  • 2016 Offshore Wind Technologies Market Report

  • i | 2016 Offshore Wind Technologies Market Report

    This report is being disseminated by the U.S. Department of Energy (DOE). As such, this document was prepared in compliance with Section 515 of the Treasury and General Government Appropriations Act for fiscal year 2001 (public law 106-554) and information quality guidelines issued by DOE. Though this report does not constitute “influential” information, as that term is defined in DOE’s information quality guidelines or the Office of Management and Budget’s Information Quality Bulletin for Peer Review, the study was reviewed both internally and externally prior to publication. For purposes of external review, the study benefited from the advice and comments of nine energy industry stakeholders, U.S. Government employees, and national laboratory staff.

    NOTICE

    This report was prepared as an account of work sponsored by an agency of the United States government. Neither the United States government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States government or any agency thereof. The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States government or any agency thereof.

    Available electronically at SciTech Connect http:/www.osti.gov/scitech

    Available for a processing fee to U.S. Department of Energy and its contractors, in paper, from:

    U.S. Department of Energy Office of Scientific and Technical Information P.O. Box 62 Oak Ridge, TN 37831-0062 OSTI http://www.osti.gov Phone: 865.576.8401 Fax: 865.576.5728 Email: reports@osti.gov

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  • ii | 2016 Offshore Wind Technologies Market Report

    2016 Offshore Wind Technologies Market Report Primary Authors

    Walter Musial, National Renewable Energy Laboratory Philipp Beiter, National Renewable Energy Laboratory Paul Schwabe, National Renewable Energy Laboratory

    Tian Tian, National Renewable Energy Laboratory Tyler Stehly, National Renewable Energy Laboratory

    Paul Spitsen, U.S. Department of Energy

    With Contributions From Amy Robertson, National Renewable Energy Laboratory

    Vahan Gevorgian, National Renewable Energy Laboratory

    Acknowledgments ..................................................................................................................................... iii Acronyms and Abbreviations ................................................................................................................... iv Executive Summary .................................................................................................................................... v 1 Introduction ........................................................................................................................................... 1

    1.1 Approach and Method ................................................................................................................... 1 1.2 Report Structure ............................................................................................................................ 5

    2 Overview of Global Offshore Wind Development ............................................................................. 6 2.1 Global Offshore Market ................................................................................................................ 6 2.2 Offshore Wind Market Projections ............................................................................................. 11

    3 U.S. Offshore Wind Market Assessment .......................................................................................... 15 3.1 U.S. Offshore Wind Industry Overview ...................................................................................... 15 3.2 U.S. Offshore Wind Project Development Pipeline Assessment ................................................ 18 3.3 U.S. Offshore Wind Lease Area Assessment .............................................................................. 24 3.4 U.S. Offshore Wind Procurement and Offtake Policy Assessment ............................................ 29 3.5 DOE’s Advanced Technology Demonstration Projects Program ............................................... 32 3.6 Regional Analysis of U.S. Wind Developments ......................................................................... 33

    4 Cost and Pricing Trends .................................................................................................................... 53 4.1 Pricing Trends ............................................................................................................................. 54 4.2 Capital Expenditures ................................................................................................................... 63 4.3 Operational Expenditures ............................................................................................................ 66 4.4 Performance ................................................................................................................................ 66 4.5 Financing Trends ......................................................................................................................... 68

    5 Offshore Wind Technology Trends ................................................................................................... 70 5.1 Site Characteristics for Global Offshore Wind Projects .............................................................. 70 5.2 Offshore Wind Turbine Trends ................................................................................................... 71 5.3 Substructure Technology and Market Trends ............................................................................. 74 5.4 Electrical Infrastructure Technology and Market Trends ........................................................... 77 5.5 Vessel and Logistical Trends ...................................................................................................... 80

    6 Floating Offshore Wind Trends ......................................................................................................... 82 6.1 Global Market Assessment .......................................................................................................... 82 6.2 Floating Offshore Wind Trends .................................................................................................. 83

    References ................................................................................................................................................. 90 Appendix A. U.S. Offshore Wind Policy Types .................................................................................... 105 Appendix B. Floating Projects ............................................................................................................... 107

    Existing Floating Offshore Wind Projects ......................................................................................... 107 Floating Wind Projects Under Development ..................................................................................... 111

    Appendix C. Cape Wind Overview ........................................................................................................ 120

  • iii | 2016 Offshore Wind Technologies Market Report

    Acknowledgments This work was supported by the U.S. Department of Energy (DOE) under Contract No. DE-AC36- 08GO28308 with the National Renewable Energy Laboratory (NREL). Funding for the work was provided by the DOE Office of Energy Efficiency and Renewable Energy, Wind Energy Technologies Office. The authors would like to extend thanks to Patrick Gilman and Alana Duerr from the DOE Wind Energy Technologies Office for supporting this research. Thanks also to Jose Zayas, Dan Beals, Rich Tusing, Gary Norton, Liz Hartman, and Brian Pitts of the DOE Wind Energy Technologies Office for their support and strategic guidance.

    The authors would also like to thank the following NREL reviewers and contributors: Suzanne Tegen, Brian Smith, Paul Veers, Garrett Barter, and Eric Lantz.

    This report covers a wide range of industry projects, policies, and past reports that the authors have documented with extensive support from a diverse group of peer reviewers. These experts and stakeholders include Ryan Wiser (Lawrence Berkeley National Laboratory), Fara Courtney (Massachusetts Research Partnership), Elizabeth Treseder (DONG Energy), Knut Aanstad (Statoil), Jeff Kehne (Magellan Wind), Gilles Duchesne (SBM Offshore), Aaron Smith (Principle Power), Katherine Kollins (SE Wind Coalition), Tom Harries (Bloomberg New Energy Finance London), Doug Boren (Bureau of Ocean Energy Management [BOEM] Pacific), Necitas Sumai