2015 Marked Record Year for the Offshore Wind Energy Market
A new report from Navigant Research examines the major offshore wind markets, with wind power capacity forecasts and global and country-level analyses, through 2020.
The demand for clean and diversified energy sources from an increasing number of governments continues to drive interest in offshore wind energy production. Preliminary confirmed project commissioning in all global markets shows that offshore wind reached nearly 12 GW of cumulative capacity by the end of 2015. According to a new report from Navigant Research, 2015 represented a record year for the offshore wind energy market, with more than 3.7 GW that came online, up from just under one GW installed in 2014.
“The market is maturing, with leading countries in Europe now well into a transition phase to more market-oriented policies that track and fluctuate alongside broader market rates and also include competitive bidding to lower project costs,” says Jesse Broehl, senior research analyst with Navigant Research. “By 2020, cumulative total offshore wind capacity is expected to surpass 32 GW.”
More than 65 percent of the capacity installed in 2015 was in Germany, according to a report, where a large number of wind turbines installed in 2014 became fully energized and grid-connected. Other key markets, such as the United Kingdom, the Netherlands, and China, contributed capacity as well.
The report, Offshore Wind Market Update, provides global and country-level analyses of the major offshore wind power markets. The study includes assessments of key policies, incentives, and regulatory and permitting environments, plus an overview of wind project construction and advanced development underway. Global market forecasts for offshore wind power capacity, segmented by project status and country, extend through 2020. Turbine vendor data is provided, including overall global market shares and more granular installed capacity by country and by wind turbine vendor. Also detailed are average rotor diameters and turbine nameplate ratings by installed year, along with the shifting market share diversification of offshore foundation types.
