Source: Bloomberg Environment
The next revolution in global energy production may be one you have to squint to see.
Over the last several years, large-scale deployment of offshore wind has emerged as a significant resource. This acceleration is spurred by experience in Northern Europe where continued improvements in turbines and other technology, learning-curve benefits, and economies of scale have slashed costs per megawatt hour by more than 50 percent over the past five years. In some circumstances, projects are being launched without explicit price subsidies. Turbines are being installed farther and farther offshore, where visual impacts (a frequent impediment to wind development) are reduced and winds are stronger and steadier.