A promising industry emerges, but there are challenges
Offshore wind is set to be a game changer in the future energy mix. With site-consented capacities now increasingly counted in multiple gigawatts, offshore wind farms represent the mega-plants of the 21st century.
Offshore wind farms are now being developed without subsidies and with increased capabilities that can help to address grid balancing challenges. It is now more realistic to envision a future in which offshore wind supplies more than a quarter of global power needs.
The maturity of the industry differs greatly by market, with countries like the United Kingdom, Germany, China and Denmark leading the way in current capacity. Stated policies will drive significant buildouts in other European countries, the United States and several Southeast Asian countries. With suitable, accessible seabed space relatively abundant compared to onshore sites for competing technologies, there is significant room for decades of continued growth.
New approaches for profitable development, execution and operation are required
A distributed power plant with more than 100 ocean-based turbines makes offshore wind an extremely complex and potentially risky renewable generation technology. However, a new offshore wind site can also represent billions of dollars in lifetime value. Success depends on securing optimal sites at a feasible price, seamless delivery and managing operational complexity.
We see three keys for success:
Revealing value in offshore wind
Offshore wind projects are unique in their scale, complexity and lifecycle. Based on experience supporting market development, construction and operations, we see significant opportunities to reduce risk, optimize operations and, ultimately, improve profitability.
Accenture has more than a decade of experience working with providers throughout the lifecycle to identify key business imperatives and provide precise appropriate solutioning. An end-to-end suite of assets and accelerators, deep industry knowledge, global delivery capabilities and close partnerships with key players allow us to quickly target opportunities and help create lasting value for offshore wind programs.