With More Than 3.7 GW of New Capacity Added, 2015 Was Record Year for the Offshore Wind Energy Market, According to Navigant Research
By Business Wire News
By Business Wire News
A new report from Navigant Research examines the major offshore wind markets, with wind power capacity forecasts and global and country-level analyses, through 2020.
The demand for clean and diversified energy sources from an increasing number of governments continues to drive interest in offshore wind energy production. Preliminary confirmed project commissioning in all global markets shows that offshore wind reached nearly 12 GW of cumulative capacity by the end of 2015. Click to tweet: According to a new report from Navigant Research, 2015 represented a record year for the offshore wind energy market, with more than 3.7 GW that came online, up from just under one GW installed in 2014.
“The market is maturing, with leading countries in Europe now well into a transition phase to more market-oriented policies that track and fluctuate alongside broader market rates and also include competitive bidding to lower project costs,” says Jesse Broehl, senior research analyst with Navigant Research. “By 2020, cumulative total offshore wind capacity is expected to surpass 32 GW.”
More than 65 percent of the capacity installed in 2015 was in Germany, according to a report, where a large number of wind turbines installed in 2014 became fully energized and grid-connected. Other key markets, such as the United Kingdom, the Netherlands, and China, contributed capacity as well.
The report, Offshore Wind Market Update, provides global and country-level analyses of the major offshore wind power markets. The study includes assessments of key policies, incentives, and regulatory and permitting environments, plus an overview of wind project construction and advanced development underway. Global market forecasts for offshore wind power capacity, segmented by project status and country, extend through 2020. Turbine vendor data is provided, including overall global market shares and more granular installed capacity by country and by wind turbine vendor. Also detailed are average rotor diameters and turbine nameplate ratings by installed year, along with the shifting market share diversification of offshore foundation types. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Offshore Wind Market Update, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.