Global offshore wind market growth predictions show accelerated growth in the next decade, with cumulative capacity ranging from 154 to 193 GW by 2030, and over 500 GW by 2050
According to a new report by the National Renewable Energy Laboratory (NREL), the global offshore wind market growth predictions show accelerated growth in the next decade, with cumulative capacity ranging from 154 to 193 gigawatts (GW) by 2030, and long-range predictions of over 500 GW by 2050.
Funded by the US Department of Energy’s Wind Energy Technologies Office, the report covers the status of the 176 operating offshore wind projects through December, 31, 2018. The report also provides the status of, and analysis on, a broader global pipeline of 838 projects in various stages of development.
- In 2018, the U.S. offshore wind energy project development and operational pipeline grew 1.4% to a potential generating capacity of 25,824 megawatts (MW).
- State-level policy commitments accelerated, driving increased market interest in offshore wind development.
- Offshore wind interest grew in California with the passage of Senate Bill 100, the 100 Percent Clean Energy Act of 2018.
- Industry forecasts suggest U.S. offshore wind capacity could grow from 11 to 16 GW by 2030.
- The global wind industry installed a record 5,652 MW of offshore wind capacity in 2018.
- By the end of 2018, cumulative global offshore wind installed capacity grew to 22,592 MW from 176 operating projects. As of December, 31, the global pipeline for offshore wind development capacity was about 272,000 MW.
- In 2018, new commitments were added in Massachusetts (an additional 1,600 MW authorized by 2035), New York (6,600 MW added by 2035), and New Jersey (2,400 MW added by 2030), while Connecticut and Rhode Island both agreed to purchase power from Orsted’s 600-MW Revolution project.
- The wind industry is seeking cost reductions through larger turbines with rated capacities of 10 MW and beyond.
- Floating offshore wind pilot projects are advancing, with the global pipeline for floating offshore wind energy reaching 3,100 MW in 2018, with 29 announced projects and 44 MW of operating projects.
In June, a report by the Global Wind Energy Council (GWEC) had predicted that the global offshore wind sector could expand to over 200 GW by 2030 if it lives up to its potential.