ABB_id2059
in News Departments > New & Noteworthy
print the content item

Total global investment in offshore wind power will reach approximately $170 billion by 2020, according to a report from Roland Berger Strategy Consultants. In Europe alone, there will be 40 GW of installed offshore capacity by the same year.

The study, however, warns that challenges remain. For example, the pursuit of larger wind farms at deeper water depths leads to more expensive and complicated projects. In order to compete with other energy resources, the study says the offshore wind industry must lower the cost of offshore generation by about 30% by 2020 through the use of new financial models, innovation of technologies and demand for political stability.

"The offshore wind industry will become increasingly important in the years ahead, because transforming the energy system without this one central pillar would be difficult to imagine," says Marcus M. Weber, partner at Roland Berger Strategy Consultants. "That makes it all the more important for the industry to quickly achieve cost-cutting industrialization effects, and for the government to stake out a reliable framework."

The report, titled "Offshore Wind Toward 2020 – On the Pathway to Cost Competitiveness,” is available here.



Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.

Hybrid Energy Innovations 2015