Global long-term cost dynamics of offshore wind electricity generation

Abstract

Using the IMAGE/TIMER (The Targets IMage Energy Regional) long-term integrated assessment model, this paper explores the regional and global potential of offshore wind to contribute to global electricity production. We develop long-term cost supply curve for offshore wind, a representation of the potential suitable for inclusion in global integrated assessment models. For this, we combine available data on resource potential and cost estimates to estimate regional and global characteristics of offshore wind electricity generation. We find that for 2050, a baseline scenario would include about 4% of the total electricity production based on offshore wind. The findings also show that in most regions, technical potential is not a limiting factor. In some regions, that have a seriously constrained resource base for onshore wind, offshore wind could provide a key source of renewable energy, including South-East Asia, Indonesia and Brazil.