STORY / PUBLIC SOURCE RECORD
Cost of wind turbines
- Published 22 August 2024; updated 30 September 2026; estimated reading time 3 minutes. The introductory text cites an offshore-wind industry forecast of USD 56.8 billion by 2026; because this is a dated forecast shown in a 2024 article, it should not be read as a verified current market figure.
- The page says project costs depend on water depth, foundation design, distance from shore and other site conditions. For a general 1 GW offshore farm estimate, development/project management is about EUR 140 million; installation/commissioning about EUR 765 million over an approximately three-year phase; operations, maintenance and service (OMS) about EUR 88 million; and decommissioning about EUR 352 million, excluding resale value of removed equipment.
- Development includes environmental/wildlife surveys, resource and metocean assessments, engineering, consultancy, approval and design. Installation includes supporting infrastructure, transport and turbine installation on land and at sea, insurance and project management. OMS covers daily turbine, balance-of-plant and transmission management, inspections, preventive/corrective maintenance, optimisation and safety assessments; blade maintenance may be covered by initial warranties.
- Annual operating costs for a 1 GW farm are estimated at EUR 94–296 million, covering operations, maintenance, insurance and related costs. The article emphasises that actual totals vary with project, technology and local conditions.
- The article says large upfront investment may be mitigated by public support, and expects improved turbines and cheaper installation methods to improve efficiency and lower costs. It presents reliable output and declining levelised cost of energy as reasons for potential long-term profitability; this is the article’s outlook.
- Related links: Energy and Offshore wind industries; external lifecycle-cost guide; articles on marine-environment impacts and wind-turbine maintenance. No direct contact block is shown.