WoodMac: Global Offshore Wind Capacity to Rise Sevenfold by 2028

By [email protected] The 2020s will be a new chapter for the wind industry, according to Wood Mackenzie research, as offshore wind’s share of the annual global wind market reaches 25 percent by 2028, up from 10 percent last year.

Onshore wind matured as an industry over the past 10 years. This maturation will continue in the new decade, as onshore wind increasingly competes with solar and suppliers undergo further consolidation.

Meanwhile, WoodMac finds that installed offshore wind capacity is expected to grow 7x by 2028. More than 80 percent of the capacity expected to be installed between 2019-25 has already been awarded.

Falling LCOE

While the

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