Offshore wind has the potential to reach 100GW of capacity by 2030 thanks to technology advancements and cost declines, according to the International Renewable Energy Agency (IRENA).
The sector could grow more than 650% from the 13GW in operation last year to become a key electricity generation technology, the agency said in a new report.
The ‘Innovation Outlook: Offshore Wind’ report highlights upcoming innovations that will boost the industry, such as next generation wind turbines with larger blades and floating turbines.
Advancements will reduce the average costs for power generated by offshore wind by 57% – from $170 per MWh last year to $74 per MWh in 2045, IRENA said.
“Offshore wind power is poised to become a leading power generation technology in a decarbonised global economy,” IRENA director-general Adnan Amin said.
“Now that onshore wind power is cost-competitive with conventional power generation technologies, more attention is shifting to offshore applications, characterised by high technical power generation potential,” Adnan said.
“The potential for offshore wind is enormous, but to realise it, governments must support technology innovation, and implement mechanisms to reduce technical risk and finance costs,” World Wind Energy Association secretary-general Stefan Gsaenger said.
“This report from IRENA helps lay the foundation for this needed action.”
Image: MorgueFile
Offshore ‘could hit 100GW’
IRENA says milestone possible on reduced costs and technology advancement
By EBS