Offshore Renewable Energy: A Rising Force in Global Energy
Summary
Offshore renewable energy, particularly offshore wind, is emerging as a significant component of the global energy landscape. This report highlights the growing importance of offshore renewable energy within the broader context of the ocean economy, which includes activities related to food, energy, minerals, health, leisure, and transport.
Current State of Offshore Electricity Generation
- Current Capacity: As of 2016, the installed offshore wind capacity has grown significantly, from 3.2 GW in 2010 to over 60 GW in 2016.
- Technological Advancements: Commercially available offshore wind turbines have increased in height from 100 meters (capable of producing 3 MW) to over 200 meters (8 MW), with designs now under development reaching 260 meters (12 MW).
Prospects for Accelerated Deployment
- Cost Reduction: Recent auctions in Europe have shown significant cost reductions for new projects, with some bids not requiring price guarantees at all.
- Policy Support: Effective policy frameworks are crucial for supporting the expansion of offshore renewable energy, including long-term visions, site data availability, regulatory efficiency, competitive tendering, transmission connection certainty, and integration with other maritime industries.
Key Data Points
- Projected Growth: In the New Policies Scenario, offshore wind would contribute approximately 10% of the European Union's electricity generation by 2040.
- Sustainable Development Scenario: Under this scenario, offshore wind capacity is expected to reach 350 GW by 2040, with increases supported by other regions and countries.
Technological Improvements
- Floating Wind Turbines: The first floating wind turbine projects are now operational, potentially widening the economic resource base for offshore electricity generation.
- Other Marine Technologies: Research and investment are needed to advance tidal, wave, and ocean thermal energy technologies.
Integrated Approaches
- Synergies: The North Sea serves as a testbed for integrating offshore energy activities with the oil and gas sector, offering potential cost savings and environmental benefits.
- Regulatory Frameworks: Comprehensive policies, including regulatory clarity, transmission connection certainty, and integration with other maritime industries, are essential for successful deployment.
Overall, the report emphasizes the growing importance of offshore renewable energy and the need for supportive policies and technological advancements to drive its expansion.
