BNEF: Offshore Wind to Hit 115GW Mark by 2030

Image source: Orsted

The global offshore wind market is set to grow at a 16 percent compound annual rate from 2017 to 2030, reaching a cumulative capacity of 115 gigawatts (GW) compared with 17.6GW today, according to Bloomberg New Energy Finance (BNEF).

The core markets of the U.K., Germany, Netherlands and China will drive installations, but in the next decade, Taiwan and the U.S. will also become gigawatt markets, according to the new report.

Source: BNEF

China is expected to take over the U.K. and lead the offshore installations by 2022, according to the report.

Looking at the U.S., BNEF increased the forecast by 85% in the new report based on new state targets, including the State of New York’s 2.4GW target by 2030.

BNEF expects annual installations to peak in 2027. After 2028, the expiry of offshore wind subsidies and a lack of regulatory transparency will result in a slowdown, BNEF said.

Share this article

Follow Offshore Wind

Events>

<< Apr 2018 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

WINDFORCE 2018

The WINDFORCE Dinner will offer participants the opportunity to enjoy the company of old and new business associates in a pleasant atmosphere…

read more >

Advances in Rotor Blades for Wind Turbines 2018

The conference will provide insights into the aerodynamic and structural performance of smart blade design for future wind turbines…

read more >

Asia Offshore Wind Roundtable 2018

The event will discuss the outlook of the Asia offshore wind industry and the potential for local and regional maritime and offshore…

read more >

FOWT 2018

FOWT’s ever growing and international attendance; with 800 participants expected and delegations confirmed from Japan, Norway…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreWIND.biz, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreWIND.biz, you’ll reach countless professionals in the sector. For more information, click below...

apply

O&M Engineer Structural

Here at Scottish Power Renewables we’re committed to remaining a UK leader in renewable energy. As well as investing in our technologies, we are committed to investing in the future of extraordinary people like you...

apply

Vessels>