Ambiente
Energy Transitions Commission (ETC) Urges Government and Industry Collaboration to Overcome Perceptions of Offshore Wind Energy 'in Crisis'
But in 2022-2023, inflation, supply chain bottlenecks, and higher interest rates led to rising offshore wind costs in some markets. A perceived offshore wind "crisis" ensued, in the UK and US markets in particular, as many projects and contracts were cancelled.
While increases were significant, they're mostly expected to be short-term. Costs in Western markets are already coming back down as most drivers were temporary in nature (e.g., supply chain bottlenecks due to COVID, a 200% increase in steel costs), although the increase in cost of finance may remain over the medium term. Meanwhile, technological progress and large-scale production drove consistent cost reductions in China over the same period, illustrating that offshore wind can be even cheaper and more competitive in the future.
Adair Turner , Chair, Energy Transitions Commission
Estimates from the International Energy Agency (IEA) suggest that offshore wind has the potential to generate more than 420,000 TWh per year worldwide, equivalent to 14 times today's global electricity generation. To achieve a net-zero economy built on clean electricity, annual wind generation needs to grow tenfold from 2,000 TWh in 2022 to over 20,000 TWh by 2050. This will be complemented by a thirtyfold growth of solar capacity from 1,000 TWh in 2022 to ~30,000 TWh by 2050.
However, most countries are not on track to install sufficient offshore wind capacity by 2030 to align with a net-zero emission trajectory.
Alistair Phillips-Davies , CEO, SSE
Governments and industry must closely collaborate to relaunch confidence in offshore wind markets and bring down costs. To be on track to install the capacity required for the transition to clean electricity, the ETC recommends governments should:
– Rebecca Williams , Chief Strategy Officer - Offshore Wind,��GWEC
– Agustín Delgado, Chief Innovation and Sustainability Officer, Iberdrola
has been developed in collaboration with ETC members from across industry, financial institutions, and environmental advocacy. The ETC is a global coalition of leaders from across the energy landscape committed to achieving net-zero emissions by mid-century whose members include Arup, bp, HSBC, Iberdrola, National Grid, Octopus Energy, Petronas, Shell, SSE, Rabobank, Vattenfall, We Mean Business, and World Resources Institute.
This report was developed in consultation with ETC Members, but it should not be taken as members agreeing with every finding or recommendation.
To access the report, please visit: https://www.energy-transitions.org/publications/overcoming-turbulence-in-the-offshore-wind-sector/.
For further information on the ETC, please visit: https://www.energy-transitions.org.
Logo: https://mma.prnewswire.com/media/1935158/3740208/Energy_Transitions_Commission_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/energy-transitions-commission-etc-urges-government-and-industry-collaboration-to-overcome-perceptions-of-offshore-wind-energy-in-crisis-302133632.html