Offshore wind power is becoming increasingly affordable, with costs falling dramatically in recent years. In September 2017, Ørsted was awarded the contract to build the world’s largest offshore wind farm at a 58% lower cost than just six years ago, demonstrating the rapid reductions in costs for offshore wind.
We are on track to reduce costs even further. In the U.S, this will be achieved as the offshore wind industry matures and scales up, which will lower costs overtime. In addition, the anticipated technology improvements resulting in larger turbines will also lower the cost of offshore wind energy through the next decade.
See below the recent research on the cost benefits of wind power