A few of the key trends analyzed in EER's new market study containing over 220 pages of comprehensive analysis analyzing offshore wind energy markets in Europe, North America and Asia:
- The contribution of offshore to the global wind power installed base will build gradually over the long term -- By 2020 offshore will account for roughly 7% of total installed wind power, a sevenfold increase from 2007.
- The offshore market will continue to be dominated by utilities, which currently account for 70% of the near- to medium-term global offshore pipeline. Of the top 10 utilities seeking to build offshore, Northern European players have the most aggressive expansion plans.
- Significant uncertainty surrounds the long-term costs of offshore wind due to supply chain bottlenecks, from vessels to pile drivers and turbines, and to limited vendor offerings. As the industry matures, new turbine entrants, a more robust supply chain, and investments in grid infrastructure have the potential to significantly improve project economics.
See full Report, in pdf format.
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