How to exploit the potential of a meshed offshore grid through harmonized regulation
2020-01-06 13:25:07
Offshore wind power's expansion is expected to continue, boosting efforts to decarbonize energy systems as it becomes a growing part of electricity supply. According to the International Energy Agency (IEA), the global offshore wind market grew about 30 percent per year between 2010 and 2018. The IEA predicts that "global offshore wind capacity may increase 15-fold and attract around $1 trillion of cumulative investment by 2040," as stated in a news release. The IEA notes that "Europe has pioneered offshore wind technology, and the region is positioned to be the powerhouse of its future development." In its key findings from Offshore Wind Outlook 2019, the IEA states: "The growth of the offshore wind industry has been fostered in European countries bordering the North Seas, where high quality wind resources and relatively shallow water have provided exceptionally good conditions in which to develop offshore wind technologies and bring them to market." Parallel to this growth, an offshore power grid is also developing in the North Sea.