- To supply power to densely populated coastal urban areas, where there isn't a lot of free land for onshore farms nearby.
- To provide some after-dark generation in areas where daytime solar power already surpasses the limits of demand.
The second case gets weaker if there is room for onshore wind power in the same region, or if storage prices keep falling so that solar electricity can be used after dark. The second case gets a little stronger if a region's highest seasonal electricity demand occurs in winter instead of summer.
That’s actually worth more than the energy generation.
- You can make the turbines substantially bigger offshore than onshore - There's better wind offshore - Both the previous ensure there is a higher capacity factor - There's a lot more flexibility in connecting to the grid. Grid accessibility is a huge challenge in siting onshore projects. You either need to be near an access point or conquer the immense, years long hurdles of constructing new transmission lines - The farms can have a large number of turbines which makes capital and labor more efficient
It's mostly the other bits. Modern US wind farms built between 2014-2020 have a 39% capacity factor, there's only so much room to improve upon it. That said different areas have different wind patterns and electricity's value depends on the time of day not just total kWh / year.