The US accounted for almost half of the growth in the offshore wind market in the last 12 months, according to analysis by the UK’s leading renewable energy body
The US accounted for almost half of the growth in the offshore wind market in the last 12 months, according to analysis by the UK’s leading renewable energy body.
Figures from RenewableUK showed that the US market accounted for 48% of growth globally. The US has overtaken China (12 GW) and Taiwan (8.9 GW) to become the third largest global market as the pipeline of American offshore wind projects has grown to 15.7 GW, up from 7.5 GW in 2018.
Strong growth in the US market was driven largely by new policy initiatives from states on the east coast, such as Massachusetts, bringing forward plans for an additional 1.6 GW and New Jersey unveiling a target of 3.5 GW by 2030.
Globally, the portfolio of global offshore wind projects in operation, under construction or in development rose from just under 105 GW to more than 121 GW in the last year, according to data RenewableUK published on the first day of Global Offshore Wind 2019 in London. Europe is the largest single region, accounting for 66% of the global pipeline.
The UK remains the largest single market with projects totalling more than 38.4 GW at varying stages of development – a 9% rise in the last year. The UK Government recently agreed a Sector Deal with the offshore wind industry that will see offshore wind providing over a third of UK power by 2030.
Germany keeps its second place position in the global rankings with 16.5 GW of capacity – a fall on 12 months ago following the cancellation of some older projects that have been stalled for a number of years.
The surge in new projects globally comes in a year in which the cost of offshore wind has continued to fall. Earlier this month, France secured 600 MW at less than €50 (US$56) per MWh and, in the UK a new auction process is expected to secure up to 6 GW of new capacity at prices below £56 (US$70) per MWh.