Offshore wind auction CfD (Contract for Difference) price trends have historically been inflated, to allow wind farm operators a higher allowance. However, over recent years, CfD strike prices have been rapidly declining.
The following animated timeline outlines the significant reduction in the cost of offshore wind around the world from 2005 to 2022. Countries that follow this downward trend include Denmark, the United Kingdom, the Netherlands, Germany, the United States, Japan, Poland and Taiwan. On the contrary, we can see France has increased its CfD strike prices over the years.
Not only does the following map provide an easy view of all offshore wind auction CfD strike prices since 2005, but it also includes Zero-Subsidy Bids to highlight how these have also increased in the last couple of years, allowing operators to receive the market price.
What does this really mean?
Watch our animation and let us know what you think!
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