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

5 minutes with Stuart Broadley, Energy Industries Council

EIC CEO Stuart Broadley reveals the challenges that lie ahead for oil and gas firms now net zero is becoming an increasingly important goal for businesses

SAP: Is 'complex' wind energy supply chain slowing adoption?

SAP digital supply chain and manufacturing expert Darcy MacClaren warns complex logistics and complicated regulations are limiting wind energy adoption

Decentralised energy key to circumventing grid delays

Aggreko is advising the sector to consider short to mid-term decentralised energy solutions as an effective means of maintaining business continuity.

Renewable energy to become top source of electricity by 2025

Renewable Energy

Nuclear energy — the unsung hero of the climate challenge

Renewable Energy

UK and US announce energy partnership

Oil & Gas