A new study has found that the cost of power generated by offshore wind could fall by as much as one third if growth remains steady over the next 10 years.

The study, conducted by German engineering consultancy The Fichtner Group in conjunction with Swiss consultancy Prognos, concluded that consistent growth will engender major cost reductions via economies of scale and by nurturing expertise and expediting innovation. “Offshore wind power has a substantial cost reduction potential,” said Offshore-Windenergie president Jens Eckhoff….