• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 7 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 3 hours Is $60/Bbl WTI still considered a break even for Shale Oil
  • 8 hours Prosecutors Fine Bosch 90 Million Euros For Emissions Cheating Role
  • 5 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 8 hours Apple Boycott in China
  • 24 mins Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
  • 1 min Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 3 hours Devastating Sanctions: Iran and Venezuela hurting
  • 15 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 8 hours California's Oil Industry Collapses Despite Shale Boom
  • 4 days Some Good News on Climate Change Maybe
  • 6 hours IMO 2020 could create fierce competition for scarce water resources
  • 5 hours Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 6 hours IMO2020 To scrub or not to scrub
The Fear Driven Oil Price Rally Won’t Last

The Fear Driven Oil Price Rally Won’t Last

Oil prices have risen on…

Who Is Winning The Offshore Solar Race?

Who Is Winning The Offshore Solar Race?

Some of Asia’s biggest economic…

Report Predicts Explosion in Offshore Wind Energy Sector by 2020

The research and consulting firm, GlobalData, has released a new report which takes a detailed look at the global offshore wind power market. The report states that due to strong support and investment from the UK, a general trend to move away from fossil fuels, and declining costs of manufacture and installation, the offshore wind power sector will explode over the next decade.

Installed capacity at the end of 2012 was 5.1GW, but this is predicted to grow to 54.9GW by the end of 2020, an annual growth rate of 34.5%.

The UK is the leader in the offshore wind energy market with an installed capacity of 2.7GW, more than half of the total capacity in the world.

Related article: Has Belgium Cracked the Problem of Storing Wind Power Electricity?

The UK government rests many of its hopes for achieving the 2020 renewable energy targets on its offshore wind sector, with major expansions planned which will see its installed capacity reach 21GW by 2020; an increase of nearly 800% from current levels.

Several other countries have been identified by the report as expected to invest heavily in the installation of offshore wind farms during the next decade. Germany already has ambitious plans to significantly develop its offshore wind sector, announcing targets of 25GW of capacity to be installed by 2030, and 95GW by 2050.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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