A new report from the International Energy Agency has projected offshore wind power will expand impressively over the next two decades, boosting efforts to decarbonise energy systems and reduce air pollution as it becomes a growing part of electricity supply. IEA Executive Director Fatih Birol noted that “offshore wind currently provides just 0.3% of global power generation, but its potential is vast… much work remains to be done by governments and industry for it to become a mainstay of clean energy transitions.” 

This global growth, however, is more evident overseas, with Europe remaining the technology leader to 2040, but China is closing the gap spurred by recent efforts to expand their construction capacities for offshore wind. In the United States, state-level targets set the course for rapid growth over the next decade. In addition, “India, Korea and Chinese Taipei also have ambitious targets, while other countries, including Japan and Canada, are laying the groundwork for future offshore wind development.”

The Business Network for Offshore Wind CEO and President Liz Burdock notes that, “The U.S. has to forge ahead or lose ground… The states are doing everything they can to make offshore wind happen. It’s up to the federal government to act now, and provide the industry with regulatory certainty. We’re at a critical moment, and if we blow it, we won’t catch up.”

The IEA report also pointed out that governments and regulators can clear the path ahead for offshore wind’s development by providing the long-term vision that will encourage industry and investors to undertake the major investments required to develop offshore wind projects and link them to power grids on land. That includes careful market design, ensuring low-cost financing and regulations that recognise that the development of onshore grid infrastructure is essential to the efficient integration of power production from offshore wind.