• 4 minutes What If Canada Had Wind and Not Oilsands?
  • 8 minutes EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 17 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 8 hours Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 17 hours Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 2 hours Could oil demand collapse rapidly? Yup, sure could.
  • 3 hours U.S. Withdraws From U.N. Human Rights Council
  • 52 mins Saudi Arabia turns to solar
  • 17 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 50 mins "The Gasoline Car Is a Car With a Future"
  • 2 hours Gazprom Exports to EU Hit Record
  • 34 mins What If Canada Had Wind and Not Oilsands?
  • 3 hours OPEC Meeting Could End Without Decision - Irony Note Added from OPEC Children's Book
  • 21 hours North Korea, China Discuss 'True Peace', Denuclearization
  • 2 mins Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 7 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 21 hours WE Solutions plans to print cars
  • 1 day Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 13 hours EVs Could Help Coal Demand
Uncertainty Looms Large Over Latin American Oil

Uncertainty Looms Large Over Latin American Oil

While Venezuela is grabbing a…

Can Oil Pull Greece Out Of Poverty?

Can Oil Pull Greece Out Of Poverty?

Greece’s withering economy could use…

Global Offshore Wind Market to be Worth €130 Billion by 2020

A new report by Roland Berger, a top industry consultant, titled “Offshore Wind Toward 2020,” states that the global offshore wind sector is likely to grow to become a €130 billion market by 2020. A variety of factors are set to make offshore wind installations competitive with other forms of energy generation, and this will lead to a massive increase in the volume of capacity installed over the coming years.

The regions of Asia Pacific and North America currently have very small, almost non-existent, offshore wind sectors, but are expected to soon represent a significant market share as plans for new projects unfold; however Europe will still remain the dominant player in the global offshore wind industry.

Related articles: UK Ministry of Defense Deems Wind Towers a National Security Threat

National policies across Europe have worked to encourage 5GW of offshore wind installations, with more than one new turbine being erected per business day in 2012. The European Union has set a 2020 target of achieving 35% of its electricity from renewables, with around 40GW of installed offshore capacity.

The plan is not just to meet this target and rest, but to gradually grow the industry a bit more each year, and then by 2020 reach the stage where 4.5GW of new offshore wind capacity is added each year.

Driven mostly by demand from Japan, China, South Korea, and Taiwan, the Asia pacific region hopes to add an extra 1.5GW of new capacity each year, and Canada, the US, and Mexico will begin adding 500MW annually.

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News