Growth of Installed CapacityRecent forecasts from the International Energy Agency (Offshore Wind Outlook 2019) and the International Renewable Energy Agency (IRENA, Future of Wind) suggest that offshore wind will grow dramatically. The IRENA report is especially bullish, suggesting annual installed capacity will grow from 4.5GW/y in 2018 to 45GW/y by 2050. This is slightly higher than the Offshore Wind Outlook 2019, which expects annual installations to reach 40GW/y by 2040.
By David Latimer, CEO, Magnomatics, UK
