A Review of Offshore Renewable Energy for Advancing the Clean Energy Transition

Offshore renewable energy resources are abundant and widely available worldwide, offering significant contributions to the clean energy net-zero carbon emission targets. This paper reviews strong and emerging offshore renewable energy sources, including wind (fixed bottom and floating), hydrokinetic wave and tidal energy, floating solar photovoltaics (FPVs) and hybrid energy systems. A literature review of recent sources yields a timely comprehensive comparison of the levelized cost of electricity (LCOE), technology readiness levels (TRLs), capacity factors (CFs) and global generation installed and potential, where offshore wind is recognized as being the strongest contributor to the clean energy transition and thus receives the most attention. Offshore wind grid integration, converter technologies, criticality, resiliency and energy storage integration are presented, in addition to challenges and research directions. While wave, tidal and FPV will never dominate the global grid, they have vital roles to play in the global energy transition; thus, they are reviewed, including technologies, installations, potential, challenges and research directions. Offshore hybrid energy systems, combining different offshore renewable energy sources, are also discussed along with example installations. The paper concludes with a discussion of the potential environmental impacts of offshore renewable energy development, including recommendations.