Norway's regulator says offshore wind and nuclear power cost far more than onshore renewables
NVE's new calculations show offshore wind and nuclear electricity cost several times more than onshore wind and hydropower, with per-kWh prices of 121-155 øre versus about 47-49 øre for onshore sources.
NVE released new average cost estimates indicating that offshore wind and nuclear generation are markedly more expensive than onshore renewable options in Norway. Floating offshore wind now costs 155 øre per kilowatt-hour, fixed offshore wind 121 øre, and nuclear 194 øre, all higher than the 47-49 øre per kWh for onshore wind and hydropower. Solar installations on rooftops cost 113 øre, and larger flat-roof systems 80 øre, still more than water power but cheaper than offshore options.
Costs for nuclear and offshore wind have risen since 2024, driven by higher equipment prices, wages and interest rates. Conversely, rooftop solar has fallen by 13-16 øre per kWh since 2024. NVE notes the figures represent lifetime average production costs and exclude factors such as electricity value, environmental impacts, or system integration costs.
