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Markets & Forecasts

Offshore wind on the rise

Offshore wind trails behind onshore capacity in countries which lead in wind power generation. However, growth in offshore wind could be huge Offshore wind trails behind onshore capacity in countries which lead in wind power generation. However, growth in offshore wind could be huge.
By Catriona Scott 5 November 2019 World / Alternative Fuels 0 34753
The falling cost of offshore wind is supporting prospects for growth. (Nicholas Doherty/unsplash.com)

The Costs of offshore wind are falling and the potential for growth is huge. As a result, offshore wind generation could grow substantially within the next 20 years. In its latest report on the power source, the International Energy Agency (IEA) projected that offshore wind capacity could increase by 15 times by 2040. The potential for offshore wind generation is vast – exceeding the globe’s total electricity demand requirements.

The UK is the world’s leader in offshore wind and is home to what will be the...