Electricity generated by wind turbines located in the sea is a relatively new form of electricity generation pioneered in Europe since the early 1990s. The wind resource at sea is generally of a more constant nature with greater wind speeds than on land and with fewer obstacles resulting in a higher capacity factor utilisation from the generation assets.
The benefits of
Offshore wind energy has been developed mainly in Europe and the UK since the early-mid 1990s. Its’ development has been driven by the need to diversify the energy mix, minimise multiple land use issues and, more recently, by a decreasing cost of producing energy as it has started to become more cost competitive with traditional forms of energy generation and other competing renewable energy generation.
More recently, developed economies such as the USA have committed to the development of offshore wind. This development highlights the opportunity for creating economic opportunities and skillsets to be embraced by Australia to progress the Project.
The key benefits of offshore wind energy include:
- A decreasing levelised cost of energy that places offshore wind as a cost competitive producer of electricity, particularly given the economies of scale of offshore wind farms which tend to be larger given the lesser restrictions on available land/sea size.
- High yielding and more consistent wind regime that ensures that the energy resource is maximised.
- Reduction of social issues associated with other generation facilities related to visual amenity impacts and carbon pollution.
- The creation of employment opportunities for local communities as offshore wind farms are greatly reliant on local content for construction, operation and maintenance of offshore wind projects.
- Contribution to national and international carbon pollution and climate change commitments.