The cost of fixed-bottom offshore wind is expected to fall from $88 per MWh to $61 this same period. 

These are findings released today in DNV’s Energy Transition Outlook, claiming that wind power is the only scalable alternative for new power production. 

DNV maintains last year's forecast for the power balance, which predicts a likely annual power deficit of approximately 10 TWh in the early 2030s.   

"Onshore and offshore wind are the only available and scalable options for significant new power production. Local opposition is delaying onshore wind projects, while high costs and slow auction and permitting processes are hindering offshore wind development. Despite these challenges, Norway is well-positioned to succeed with wind power both nationally and as a leading supplier of offshore wind technology internationally. I encourage both the industry and the authorities to accelerate the efforts already being carried out in this domain, says CEO of DNV Remi Eriksen 

DNV projects Norway will add 13 GW of new onshore wind power and 21 GW of offshore wind by 2050, with fixed-bottom offshore wind contributing slightly more than floating installations. Overall, wind power will account for 84% of new power production by 2050.