This range is primarily caused by the large variation in CapEx ($3,000–$9,187/kW) and project design life. The residential and commercial reference distributed wind system LCOE are estimated at $240/MWh and $174/MWh, respectively.
Projected floating offshore wind cost reductions are mapped to $74/MWh in FY 2035 using similar methodology as fixed-bottom offshore wind. DOE established a Floating Offshore Wind Shot goal of $45/MWh (2020 USD) by 2035 for a different reference site using a different set of assumptions.
The FY 2023 baseline assumes a representative wind turbine of 3.3 MW, 148 m (RD), 100 m (HH), and the FY 2035 target assumes a turbine of 6 MW, 170 m (RD), 115 m (HH). The land-based wind GPRA baseline value starts at $39/MWh (in 2022 USD) set in FY 2023, using the 2022 reference project data.
Funding provided by U.S. Department of Energy Office of Energy Efficiency and Renewable Energy Wind Energy Technologies Office. The views expressed in the article do not necessarily represent the views of the DOE or the U.S. Government.
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