The world installed 3.3GW of offshore wind capacity in 2017

By Sophie Chapman
According to a new report released by Navigant Research reveals that, in total, 3.3GW of offshore wind capacity was installed across the glob...

According to a new report released by Navigant Research reveals that, in total, 3.3GW of offshore wind capacity was installed across the globe last year.

The world has now almost reached 17GW of total offshore wind capacity.

The report, titled ‘Offshore Wind Market and Project Assessment 2017’, has analysed world-wide offshore wind markets on a country basis.

The research has accounted for policies, incentives, and regulatory environments, as well as market shares and market forecasts.

Offshore wind is increasingly becoming more cost effective, with the cost of installing and running farms dropping.

SEE ALSO:

The report suggests that countries such as the Netherlands, Denmark, Germany, the UK, and Belgium are leading the way in establishing policies that can lower the costs of offshore projects.

“While the onshore wind market is larger in terms of total megawatt plant capacity added annually, offshore wind is growing more quickly,” reported Senior Research Analyst at Navigant Research, Jesse Broehl.

“It is forecast to grow at an 11.1% compound annual growth rate between 2017 and 2022, compared to single-digit growth rates for onshore wind.”

The report also claims that there is 7.9GW of capacity currently under construction, predominantly in Europe and China.

Share

Featured Articles

COP27 agrees to climate compensation fund

The deal is said to be a historic first in acknowledging the vast inequities of the climate crisis

North America's natural gas can help mitigate energy crisis

In the effort towards decarbonisation, North America could be a key player in providing affordable natural gas, addressing energy security issues

COP27: Egypt and Norway to build 100MW green hydrogen plant

Plant will be built in Egypt’s Ain Sokhna region, on the Red Sea coast, and will be implemented in cooperation with Scatec, the Norwegian energy giant

Renewable energy company Masdar opens office in Saudi Arabia

Renewable Energy

Ørsted closes US$140m transaction with ECP for US portfolio

Renewable Energy

ADNOC Drilling delivers world record well at Upper Zakum

Oil & Gas