September 26, 2018 Read More →

IEA: Offshore wind capacity could top 200GW by 2040

Recharge News:

The International Energy Agency (IEA) sees offshore wind as a “rising global force on the energy landscape”, executive director Fatih Birol told the opening session of the WindEurope conference yesterday.

With around 20GW of offshore wind installed globally today, compared to more than 500GW of onshore wind, the offshore sector has not figured prominently in the Paris-based IEA’s previous analyses and forecasts of the global energy market. But the IEA expects the world’s offshore wind capacity to more than triple by 2025, and edge close to 200GW by 2040 — with the potential to go substantially further if ambitious government policies were put in place.

Recent auction results and the introduction of larger turbines herald a period of ever more competitive offshore wind power, said Birol, who expects “strong growth, first in Europe and then around the world. The developments in Europe can spark a wave of offshore wind appetite outside of Europe — there’s some fertile grounds for that,” he said. “First of all Asia, with China followed by India. But also North America and Latin America — there’s big room [for growth] there.”

The substantially higher capacity factor of offshore wind farms compared to onshore wind or solar make it a “very important opportunity” as the world’s penetration of renewables grows.

Birol also tipped his hat to the growing promise of floating wind, which could unlock big electricity markets in places like California for the offshore wind sector. The IEA is “working very closely” with industry leaders to better understand the “opportunities floating turbines can provide for offshore wind developers across the world”, he said

More: IEA: Offshore wind could reach 200GW or more by 2040

Comments are closed.