The 2023 Global Offshore Wind Report by the GWEC | Summary PDF
The Global Wind Energy Council's (GWEC) 2023 Global Offshore Wind Report forecasts that more than 380 GW of offshore wind capacity will be installed over the next decade (2023-2032), bringing total offshore wind capacity to 447 GW by the end of 2032. This represents a compound annual growth rate (CAGR) of 12.3%.
The report highlights the growing importance of offshore wind in the global energy mix, as countries seek to decarbonize their economies. The European Union (EU) is leading the way, with plans to install 300 GW of offshore wind power by 2050. China is also a major market, with plans to install 120 GW of power offshore wind turbines by 2030.
Other key offshore wind markets include the UK, the US, South Korea, Japan, and Taiwan. These markets are all expected to experience significant growth in the coming years.
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The report also identifies a number of key trends shaping the global offshore wind market. These include:
The increasing size of offshore wind turbines. Wind turbines are getting bigger and more efficient, driving down the cost of offshore wind power.
The development of new floating offshore wind technologies. Floating wind turbines can be installed in deeper waters, opening new opportunities for the development of offshore wind.
The growth of offshore wind in emerging markets. Countries like India, Brazil, and Mexico are all exploring the potential of offshore wind energy.
The Global Offshore Wind Report 2023 is a comprehensive overview of the global offshore wind market. It provides valuable insight into the trends and factors shaping this rapidly growing sector.
Here are some additional highlights from the report:
- The UK is the world's largest offshore wind market, with 11.4 GW of installed capacity.
- China is the second largest market, with 10.2 GW of installed capacity.
- The United States is the third largest market, with 8.8 GW of installed capacity.
- The global average cost of offshore wind power has fallen 56% since 2010.
- The cost of offshore wind power is now competitive with other forms of electricity generation, such as coal and gas.
Offshore wind is a key part of the global transition to clean energy. It is a reliable, renewable energy source that can help reduce greenhouse gas emissions.
The Global Offshore Wind Report 2023 is a positive sign for the future of offshore wind energy. The report forecasts strong market growth over the next decade and highlights the many benefits that offshore wind can offer.
References :
Global Wind Energy Council - GWEC
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