Posters
Come meet the poster presenters to ask them questions and discuss their work
We would like to invite you to come and see the posters at our upcoming conference. The posters will showcase a diverse range of research topics, and will give delegates an opportunity to engage with the authors and learn more about their work. Whether you are a seasoned researcher or simply curious about the latest developments in your field, we believe that the posters will offer something of interest to everyone. So please join us at the conference and take advantage of this opportunity to learn and engage with your peers in the academic community. We look forward to seeing you there!
PO239: Assessment of the impact of raw material rising costs in wind turbines price
Andressa Santiso, Head in Offshore Wind at the Creation Research Group, Creation Research Group (UFRN)
Abstract
Ambitious net-zero emissions targets and short-term national goals are driving investments in offshore wind projects around the world. From 2020 to 2023, global installed capacity more than doubled, reaching 63.4 GW. This growth fosters an increase in demand for turbine components raw materials, such as steel, iron, fiberglass, polymers, aluminum, copper, cobalt, zinc, and rare earth elements (REEs). It is expected that over 50 GW of projects will be added by 2030. Foreseeing the rapid sector growth, these materials will become increasingly important. However, due to a lack of geographical diversification in the production of each material, raw material costs are exposed to economic, political, and geopolitical factors. As a result, original equipment manufacturers (OEMs) are exposed to price volatility and risks incurred due to advanced price fixation. In this context, the study raises the question: "What is the impact of rising raw material prices on turbine costs? And how can we reduce it?". Considering this question, the study objective is to analyze the impact of rising raw material costs on offshore wind turbines and propose guidelines for reducing this impact. To achieve its objective, the study followed four stages: i) updating the state of the art in offshore wind turbine materials; ii) analyzing the Critical Raw Materials Act; iii) systematizing and analyzing the information collected in stages 1 and 2; and iv) analyzing the impact of rising raw material costs on turbines and proposing guidelines for reducing the associated impact and risks. As a result, the current impact of rising raw material costs on turbines was exposed, along with the proposal of 7 guidelines for reducing these impacts. The outcome of this work will contribute to assisting in the development of strategies to reduce the impact on the market and mitigate the volatility and risks incurred by OEMs.
