Offshore wind set to become a one trillion dollar industry

FuturENERGY February 2020

Offshore wind is a rapidly maturing renewable technology that is poised to play an important role in future energy systems. In 2018, offshore wind provided a tiny fraction of global electricity supply, but it is set to expand strongly over the next two decades, to become a one trillion dollar business. A new special report from the IEA, “Offshore Wind Outlook 2019”, dives into offshore wind, giving a snapshot of where the market, technology and policies stand today – and mapping out how they may develop over the next two decades. It draws on a state-of-the-art geospatial analysis of the world’s offshore wind resources and explores the implications of the technology’s growth for global environmental goals and energy security.