Richard, C. (2019, October 25). Global offshore wind fleet to grow 15-fold by 2040. Retrieved from https://www.windpowermonthly.com/article/1663624/global-offshore-wind-fleet-grow-15-fold-2040.
The International Energy Agency, or IEA, predicts that the offshore wind energy could increase 15-fold by 2040. Many countries are starting to build offshore turbines and wind energy is becoming very popular. The IEA predicts that the government will reduce the costs by 60% of offshore turbines to promote the installation of them. Also, it is expected that governments will make the industry much more stable by creating a long term plan for offshore wind energy. With these government subsidies, it is expected that the offshore wind energy industry will grow exponentially in the future. Offshore wind energy took account for 0.3% of global electricity at the end of 2018, but by 2040, it is expected that offshore wind energy could take account for 5.4% of global electricity.
The offshore wind energy industry is growing quickly and in the future, with more technological advancements and government subsidies, the industry will grow exponentially. Right now, offshore wind turbines are efficient, but they are pretty expensive. The financial side of it is what is holding back many countries from making them. Technological advancements will make these turbines even more efficient and cheaper as they will reduce transmission costs. With this and government subsidies, offshore wind turbines will become much more affordable and many countries will start to develop more offshore turbines.
This sounds like a great form of energy to switch over to! I’m confused on how government subsidies would make offshore wind energy cheaper though. Is it even possible to make this form of energy more affordable?
I agree that wind energy is a great form of energy, and the fact that money is the only major obstacle for companies means that a solution is clear: reduce the prices.