Offshore wind power set for 15-fold increase: IEA

Offshore wind could become Europe's largest single source of electricity and its use for power generation is set to increase 15-fold worldwide by 2040, the International Energy Agency (IEA) said Friday. In its annual assessment of the clean energy source, the IEA said that falling costs, supportive government policy and technological breakthroughs could see as much as $1 trillion (900 billion euros) invested in growing capacity.

In collaboration with Imperial College London, the IEA used satellite data to map the speed and quality of wind along hundreds of thousands of kilometres of coastlines worldwide, identifying key areas for expanding offshore wind power generation. The EU and China are set to lead the transition towards more wind power, with offshore capacity in Europe set to surge from 20 to 130 gigawatts by 2040 under current policy and pricing.

The IEA said the EU's capacity could jump as high as 180 gigawatts if member states reach their carbon-neutrality aims. China's capacity is predicted to rise from 4 gigawatts today to 110 by the same date, overtaking Britain as possessing the largest offshore wind fleet of any country.