Global Floating Wind Energy Market & Forecast
Quest has released its Global Floating Wind Energy Market and Forecast Volume 2 for 2019 to 2034.
Major report findings include:
- The wind industry continues to deliver value to enhance wind’s cost competitiveness and efficiency with steady improvements in the levelized cost of electricity (LCoE). Since 2016, offshore wind particularly has pushed reductions in LCoE in excess of 50 percent.
Ten potential super-sized floating offshore wind projects, each ranging between $2.2 billion and $10.8 billion in capex, represent a sizeable share (over 60 percent) of the $63 billion total addressable market presently identified.
Regional highlights include:
- The U.S., U.K., Taiwan, Japan, South Korea and Spain lead the exponential growth in cumulative total MW for planned and possible offshore floating wind projects to 2033. These countries represent projected wind capacity additions totaling over 16 GW. Other notable contributors include Saudi Arabia, France and Norway.
- The Asia-Pacific region is a definite bright spot. Quest sees the near domination of floating wind presently shining through across the region with a total addressable market exceeding $22.9 billion capex, represented by six projects in South Korea, six in Japan, four in Taiwan, and one in Saudi Arabia. Shell (EOLFI) looks to develop four of the six largest projects as measured in capex, which are located in Taiwan. Acacia, with designer Ideol, is set to develop the largest project in the region, to be situated off the western shore of Japan.
Learn more at https://questfwe.com/market-report.