Global offshore wind capacity will surge to over 234 GW by 2030 from 29.1 GW at the end of 2019, led by the exponential growth in the Asia-Pacific region and continued strong growth in Europe, according to a new report from the Global Wind Energy Council (GWEC).
GWEC has released the second edition of its Global Offshore Wind Report, which provides a comprehensive overview of the offshore wind sector globally with the latest data and analysis on market growth, industry forecasts to 2030 and data-based insights on emerging markets.
The report also includes lessons learnt on support schemes, industrial development and job creation, grid connection, cost reduction and supply chain, as well as health and safety to further drive growth of the global offshore wind market.
- 2019 was the best year on record for offshore wind, with 6.1GW of new capacity added globally, bringing total global cumulative installations to 29.1GW.
- China remains in the number one spot for the second year in a row for new installations, installing a record 2.4GW, followed by the UK at 1.8GW and Germany at 1.1GW.
- Europe will continue to be a leader in offshore wind, with an ambitious 450GW goal by 2050 driven by installations in the UK, Netherlands, France, Germany, Denmark and Poland, with several other EU markets posting double-digit volumes.
- Countries in the Asia-Pacific region, such as Taiwan, Vietnam, Japan, and South Korea, as well as the US market, are quickly picking up the pace and will be regions of significant growth in the next decade.
- In North America deployment will accelerate in the coming years with 23GW forecasted to be installed by 2030. The majority of this growth will come from the budding industry in the US, and we can expect to already see utility-scale projects coming online by 2024 in the country.
The report highlights increased activity level in the Asia-Pacific region thanks to increased national ambition, led by China where 52GW of new offshore wind capacity is expected to be installed by 2030. Taiwan is set to become the second-largest offshore wind market in Asia after Mainland China, with a goal of 5.5GW by 2025 and an additional 10GW by 2035. Other markets in the region are also beginning to scale-up their offshore wind markets, with Vietnam, Japan and South Korea expected to install 5.2GW, 7.2GW and 12GW of offshore wind capacity respectively.
Ben Backwell, CEO at GWEC, commented: “Offshore wind is truly going global, as governments around the world recognise the role that the technology can play in kickstarting post-COVID economic recovery through large-scale investment, creating jobs and bringing economic development to coastal communities. Over the coming decade, we will see emerging offshore markets like Japan, Korea and Vietnam move to full deployment, and see the first offshore turbines installed in a number of new countries in Asia, Latin America and Africa.
“The report shows that 900,000 jobs will be created in the offshore sector over the next decade ” and this number can only increase if policymakers put in place recovery strategies that can further accelerate the growth of the sector. Furthermore, 1GW of offshore wind power avoids 3.5 MT CO2 ” making it the most effective available large-scale technology to avoid carbon emissions and displace fossil fuels in many geographies”.
Feng Zhao, GWEC Strategy Director, says: “The industry’s outlook has grown more promising as more and more countries around the world are waking up to the immense potential of offshore wind. As the market continues to grow, innovations in the sector such as floating offshore wind, larger and more efficient turbines, as well as Power-to-X solutions will continue to open new doors and markets for the sector and place the offshore industry in an increasingly important position to drive the global energy transition.”
“Offshore wind has already proven itself as an affordable, scalable, zero-carbon technology, and maximising the growth potential of the industry has depended on collaborative action between governments and industry for market design, to set clear capacity targets, undertake forward-looking planning for infrastructure development and workforce requirements. There are plenty of lessons we can take from the last 30 years of offshore wind development in Europe to ensure the long-term success and growth of the industry in new markets around the globe, as we are only beginning to unlock the full clean energy potential of offshore wind”, he added.
GWEC Market Intelligence forecasts that through 2030, more than 205 GW of new offshore wind capacity will be added globally, including at least 6.2 GW of floating offshore wind. This represents a 15 GW increase from the forecasts in GWEC Market Intelligence’s pre-COVID forecast, demonstrating the resilience of the sector to play a major role in powering both the energy transition and a green recovery.
Read full Global Offshore Wind Report.