“A Sustainable Solution to Increase Clean Energy Deployment.” n.d. Www.nrel.gov. Accessed February 10, 2024. https://www.nrel.gov/news/program/2023/a-sustainable-solution-to-increas e-clean-energy-deployment.html.

There is the potential for global offshore wind energy capacity to reach almost 400 gigawatts by 2023. An important step in growing wind power is going to be CfDs. CfDs (Contracts for Difference) are essentially agreements that establish a fixed price for electricity. The energy companies pay the governments, or the governments pay the energy company, depending on whether the price of energy falls short or exceeds the agreed-upon price. This is a way of overcoming a major shortfall of wind energy and green energy in general, which is the inconsistent levels of power and prices. There is also hope this will lead to more investors.

I think wind power should be a major source of energy in the future. Similar to solar energy, it is a largely untapped source of power that is always present. However, one major issue with wind energy is that wind levels constantly change, so prices and power levels are not consistent. The emergence of CfDs makes wind power far more attractive because it makes sure prices will always be consistent.