GWEC: Global Offshore Wind Report 2021

On 9 September, GWEC released its third annual Global Offshore Wind Report 2021, which looks at the growth of the global offshore wind industry in 2020, highlights offshore wind’s role in the decades ahead as one of the central planks of the world’s future energy system on the road to net zero, the latest technology innovations to open new opportunities for the sector and how the offshore wind industry is powering a green recovery and just transition.

Offshore wind is a key climate solution as one of the most efficient renewable energy source with capacity to deliver affordable, indigenous, reliable, and flexible clean energy to countries across the world. While many countries across the world have already put in place comprehensive offshore wind targets and strategies, reaching global carbon neutrality and sustaining a 1.5°C pathway calls for around 2,000 GW of offshore wind capacity by 2050.

Key Highlights

  • The world installed 6.1GW of offshore wind in 2020, led by China
  • 2020 was the second highest year for Offshore Wind installations despite COVID disruptions, following record year in 2019
  • Offshore wind has the biggest growth potential of any renewable energy technology but the policy environment needs to improve rapidly for offshore wind to reach international Net Zero targets
  • Offshore wind today is only 2% of what the world needs to get to net zero by 2050
  • The report forecasts 235 GW of new offshore wind capacity will be installed over the next decade under current policies. That capacity is seven times bigger than the current market size, and is a 15 per cent increase on the previous year’s forecasts.
  • A growing group of countries have identified Offshore Wind as a key technology for reaching climate targets, but governments now need to follow up on commitments and work with industry to allow investment to scale up rapidly

Click here for downloading the report

Source: GWEC