Renewable energy studies suggest cost reductions for North Sea wind and EU hydrogen

A joint industry study led by DNV suggests that North Sea offshore wind electricity costs could decrease by up to 28% by 2050. The research, conducted with partners including Vestas, Vattenfall, and Jan De Nul, indicates that such reductions depend on standardizing turbine designs and establishing predictable, high-volume project pipelines to counter current rising costs and inconsistent development cycles.

Separately, research from WU Vienna University of Economics and Business indicates that European green hydrogen support could be made up to 15% more cost-effective by prioritizing projects near industrial users. The study suggests that current EU policies focus heavily on scaling supply, whereas incorporating demand-side location factors into auction scoring could better stimulate the hydrogen economy through regional spillover effects.