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An offshore wind power boom could see the technology grow by more than 650 per cent worldwide by 2030.
Offshore wind power has potential to increase from 13GW in 2015 to 100GW in 2030 driven by technology advancements and further cost declines, according to research from the International Renewable Energy Agency (Irena).
Irena’s report highlights that technology innovation will be a key driver of the boom including next generation wind turbines with larger blades, and floating turbines which will open new markets in deeper waters.
Irena director general Adnan Amin said: “Offshore wind power is poised to become a leading power generation technology in a decarbonised global economy.
“Now that onshore wind power is cost-competitive with conventional power generation technologies, more attention is shifting to offshore applications, characterised by high technical power generation potential.”
These advancements, combined with other sector developments, will reduce average costs for electricity generated by offshore wind farms by 57 per cent over time – to USD 74 per MWh in 2045.
The report also sets out recommendations for the effective implementation of policy mechanisms and incentive programmes. Recommendations include provisioning targeted research and development funding and supporting information sharing and skills development, amongst other measures.
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