| Abstract |
Floating photovoltaic (PV) energy has been widely deployed in reservoirs, but its coastal and offshore potential remains largely untapped. This work presents the first large-scale mapping of the levelised cost of energy (LCOE) from floating PV. The main objective is to ascertain its spatial variability and facilitate the comparison between potential areas for deployment, in the understanding that current LCOEs may evolve in future. The study region encompasses the coastal waters of the European Atlantic, the North and Baltic Seas. A comprehensive breakdown of the costs incurred throughout the lifetime of an exemplar floating PV farm is presented based on site-specific factors, such as water depth and distance to shore. The energy production is estimated using site-specific reanalysis data. Results reveal the principal roles of solar resources and the distance to shore, the latter due to its effect on installation costs. The role of water depth is secondary. Southern nearshore areas present low LCOEs, with the lowest ( 250 EUR/MWh) in Spain and Portugal. LCOEs increase with latitude, reaching 650 EUR/MWh in northern Norway. In the North and Baltic Seas, LCOEs are 400 EUR/MWh and 440 EUR/MWh, respectively. Additionally, LCOEs are estimated for different floating platforms and PV technologies to identify potential cost reductions. Uncompetitive though they may be now without subsidies or feed-in tariffs, current values will probably decrease as the technology develops, the supply chain matures and economies of scale kick in. This analysis helps to identify the areas with the greatest potential for floating PV in the region. |