Market Intelligence

World Offshore Wind

Offshore wind today is only 2% of what the world needs to get to net-zero by 2050. Offshore wind together with solar energy demand have the biggest growth potential of any renewable energy technology.
2020 was the second-highest year for offshore wind installations despite COVID disruptions, following a record year in 2019, The world installed 6.1GW of offshore wind in 2020, led by China, a growing group of countries has identified Offshore Wind as a key technology for reaching energy generation and climate targets, but governments now need to follow up on commitments and work with industry to allow investment to scale up rapidly in order to lower costs and provide a sustainable growth pathway to this industry.

> 1100000000   

tonnes of CO2 avoided in 2020

According to the Global Wind Energy Council (GWEC) in its Global Wind Report 2021, the entire global wind power fleet, both onshore and offshore, totalled 743 gigawatts (GW) at the end of 2020. That is enough to avoid more than 1.1 billion tonnes of CO2 globally – roughly equivalent to the annual carbon emissions of Japan, the world’s fifth-highest emitting country.
Wind markets are continuing to grow as the industry matures and costs of deployment come down, and GWEC says current growth rates will need to triple worldwide by 2030 in order to set the right course to meet mid-century climate targets.
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