The wind energy market continues to mature, with dramatic technology shifts remaining focused on offshore turbines, market analyst MAKE says in its latest research note.
The note, titled ”Global Wind Turbine Trends 2015,” says that despite long product cycles, offshore wind defines the innovation horizon, as the most radical technological approaches continue to be applied to this segment.
The 6-10 MW turbines that will be introduced to the offshore over the coming years are stretching the limits of traditional technologies, as these turbines require game-changing technologies in order to deliver a cost-effective turbine with reliability to withstand the offshore environment. MAKE argues that every component must be effectively re-engineered at this scale, resulting in dramatically different drivetrains, rotor systems and power electronics.
Turbines have grown larger, more productive, cost-effective and reliable due to technology investments, according to MAKE. The next decade will bring further change, but the role of technology has shifted as the industry continues to evolve and work towards the levelized cost of electricity (LCOE) grid parity.
Wind energy is nearing the critical point of grid parity in many markets, where LCOE is competitive with traditional forms of thermal power generation.
MAKE argues that much of this progress is due to technical advances, and sustained technology improvements will enable wind to be competitive in a subsidy free environment.