The cost of offshore wind: Understanding the past and projecting the future

► Analysis suggests that offshore wind may see modest cost falls in the medium term. ► These cost reductions are unlikely to be as marked as recent cost rises. ► Competing upward and downward cost pressures remain. ► The ambitious scale of UK offshore wind may bring in new capacity and reduce costs. ► But the pace of growth has the potential to sustain upward pressure on costs.