Floating Offshore Wind Cost.pdf

California aims to meet emissions reduction and renewable energy requirements by 2030 and achieve 100% renewable energy and zero-carbon resources by 2045.
Offshore wind can contribute significantly to California's electric energy generation and help diversify its energy mix.
The National Renewable Energy Laboratory (NREL) conducted a study on the cost of floating offshore wind energy in California between 2019 and 2032.
The study found that the levelized cost of energy (LCOE) for floating offshore wind in California can range from $80 to $120 per megawatt-hour (MWh).

Report Details:

The report, "The Cost of Floating Offshore Wind Energy in California Between 2019 and 2032," was published by NREL in November 2020.
The study was funded by the U.S. Department of the Interior, Bureau of Ocean Energy Management (BOEM), and the U.S. Department of Energy.
The report provides an analysis of the cost and performance of floating offshore wind energy in California, including capital expenditures, operational expenditures, and capacity factors.

Methodology:

The study used a combination of modeling tools, including the Annual Technology Baseline (ATB) and the Offshore Renewable Balance-of-system Installation Tool (ORBIT).
The report also drew on data from the National Oceanic and Atmospheric Administration (NOAA) and the California Independent System Operator (CAISO).

Conclusion:

The study concludes that floating offshore wind energy can play a significant role in helping California meet its renewable energy and emissions reduction goals.
* The report highlights the need for further research and development to reduce the costs and increase the efficiency of floating offshore wind energy in California.