Doubling offshore wind energy by 2025

Doubling offshore wind energy by 2025 – Offshore Wind Energy to Double

Wind and solar energy are becoming the cheapest alternatives to fossil fuels worldwide. The wind industry is experiencing a boom and, according to Bloomberg to increase to a global electrical capacity of around 60 gigawatts by 2025. As the graphic shows, the capacity is currently around 25 gigawatts and is expected to increase continuously from year to year. To put these values ​​in perspective: One gigawatt is enough energy to light around 110 million LED bulbs.

Bloomberg also reports that offshore wind has proven to be very lucrative in recent years. Relatively simple installation and operation enable the wind energy network to be expanded quickly. The USA, Japan, South Korea and Europe in particular are investing in the expansion of their offshore wind turbines.

Wind and solar energy are quickly becoming one of the cheapest forms of energy across the world. This is leading to a booming growth in these two renewable energy industries, with several large carbon emitting countries vowing to expand renewable infrastructure in the coming decades to meet decarbonization efforts. Data on future global power expansion shows a potential giant leap forward in offshore wind production over the next five years.

In data collected by Bloomberg , an estimated 25 gigawatts of power capacity will be generated by offshore wind farms in the world during 2020. That's expected to rapidly increase in the coming years, with total capacity predicted to more than double to 61 gigawatts by 2025. To put that amount of power into perspective, one gigawatt by itself contains enough energy to power 110 million LED lightbulbs. By 2025's estimate, offshore wind farms will be contributing enough energy to power roughly 6.7 billion LEDs around the world.

According to Bloomberg, competition among offshore wind companies is rising as governments look to transition from fossil fuels. Onshore wind farms, however, have been more financially successful in recent years, with relatively easier installation allowing for a bulk production of wind energy in a shorter amount of time. The US, Europe, Japan and South Korea are gearing up for a surge in offshore wind energy in the next decade, with all eyes on Europe to see whether the potentially lucrative renewable energy will help with their bold climate targets set earlier in the year.