Offshore wind power has the potential to grow from just 13 gigawatts (GW) in 2015, to 100 GW in 2030, according to new analysis from the International Renewable Energy Agency (IRENA). Innovation Outlook: Offshore Wind provides an overview of the future developments that will drive the offshore wind power boom, including technology advancements and further cost declines.
Technology innovation will be a key driver of the offshore wind boom. The report highlights upcoming innovations that will enable sector development, including next generation wind turbines with larger blades, and floating turbines, which will open up new markets in deeper waters. These advancements, combined with other sector developments, will reduce average costs for electricity generated by offshore wind farms by 57 per cent over time – from USD 170 per megawatt hour (MWh) in 2015 to USD 74 per MWh in 2045. Innovation Outlook: Offshore Wind provides a set of recommendations for the effective implementation of policy mechanisms and incentive programmes that would allow offshore wind technology to realise its potential to decarbonise the energy market.
