Offshore Wind Outlook 2019
Introduction
The International Energy Agency (IEA) has produced a comprehensive global study on offshore wind, focusing on its potential and development over the next two decades. The report highlights the rapid growth and significant economic impact of offshore wind, projecting a 15-fold increase in global capacity by 2040, making it a $1 trillion industry.
Key Findings
- Projected Growth: The IEA forecasts that global offshore wind power capacity will grow from 6 GW in 2019 to 90 GW by 2030 and reach 370 GW by 2040.
- Economic Impact: Offshore wind is expected to become a major driver of economic growth, creating jobs and stimulating technological advancements.
- Environmental Benefits: The IEA's Sustainable Development Scenario shows that offshore wind can significantly contribute to decarbonizing the power sector and enabling hydrogen to reduce emissions in various sectors like iron, steel, and shipping.
Geospatial Analysis
The IEA collaborated with Imperial College London to conduct a detailed geospatial analysis using the latest satellite data. This analysis mapped wind speeds and quality along coastlines worldwide, providing a comprehensive understanding of offshore wind potential.
Collaborative Efforts
- Global Ministerial Conference: The IEA co-organized the first Global Ministerial Conference on System Integration of Renewables in October 2019, focusing on the opportunities of wind and solar power.
- Future Studies: The IEA is conducting a major new study on global electricity security in the 21st century, scheduled for publication in September 2020.
Challenges and Opportunities
- Policy Needs: The report emphasizes the importance of implementing policies to promote investment and spur innovation in the offshore wind sector.
- Technological Advancements: Continued improvements in technology and cost reductions are making more potential accessible.
Acknowledgments
The report acknowledges contributions from various organizations, including the IEA's WEO team, Imperial College London, and numerous international partners and experts. These collaborations have been instrumental in producing this comprehensive study.
This summary provides an overview of the key points and findings from the Offshore Wind Outlook 2019 report by the IEA.
