• 5 minutes Oil prices forecast
  • 8 minutes Nuclear Power Can Be Green – But At A Price
  • 11 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 16 minutes Europe Slipping into Recession?
  • 3 mins *Happy Dance* ... U.S. Shale Oil Slowdown
  • 18 mins Socialists want to exorcise the O&G demon by 2030
  • 18 mins UK, Stay in EU, Says Tusk
  • 17 mins Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 13 hours Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 3 days U.S. Treasury Secretary Mnuchin Weighs Lifting Tariffs On China
  • 2 days Connection Between Climate Rules And German's No-Limit Autobahns? Strange, But It Exists
  • 2 days Chevron to Boost Spend on Quick-Return Projects
  • 15 hours How Is Greenland Dealing With Climate Change?
  • 2 days Conspiracy - Theory versus Reality
  • 2 days Maritime Act of 2020 and pending carbon tax effects
  • 2 days Regular Gas dropped to $2.21 per gallon today
Fears Of U.S. Shale Demise May Be Overblown

Fears Of U.S. Shale Demise May Be Overblown

Recent reports have highlighted growing…

U.S. ‘Tough Line’ On Iran Depends On Crude Prices

U.S. ‘Tough Line’ On Iran Depends On Crude Prices

As the White House compliments…

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