EnergyWatch

New data suggests offshore wind prices fell 20 percent in 2017

From 2016 to 2017, investment expenses for offshore wind seem to have fallen almost eight times more than expenses for onshore wind.

Photo: Robin Dave

Last year broke several records in the European wind industry. According to WindEurope's annual review, more onshore and offshore wind was installed than ever with 12,526 MW at sea and 3,154 MW on land. But wind investments also reached a never-before-seen level.

Technically speaking, this is not accurate as the invested amount actually saw a drastic decline from EUR 27.5 billion in 2016 to EUR 22.3 billion last year. Furthermore, wind only claimed 52 percent of the renewable energy investments in 2017, compared to 86 percent the previous year. Meanwhile, the amount spent on solar power grew seven times its former size landing at EUR 10.9 billion.

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