Prospect of Floating Wind Power Market In 2030
Nowadays, floating PV has entered into a prosperous and relevant stable stage both for solar and wind. Likewise, floating pv mounting system is also very popular. Let’s look at the prospect of floating wind power market. Since Equinor of Norway has been connected to the world's first MW floating offshore wind turbine in 2009. By the end of 2019, 66MW floating wind turbines have been installed worldwide. After ten years of development, offshore floating wind power is no longer only in the field of R & D, but into the early stage of large-scale commercial installation. As more and more oil and gas giants (such as Shell and Total) begin to pay attention to floating wind power, it is expected to carry out comprehensive commercial projects quickly in the future. (Reference: global oil and gas giants enter the Korean market strongly and will build 2.3GW floating offshore wind power project!)
According to the prediction, the installed capacity of floating wind power will be between 3GW and 19GW by 2030. The specific development degree still depends on whether the industry can reduce the LOCE of floating offshore wind power to an acceptable level.
GWEC predicts that 6.2 GW of floating wind power projects will be built in the next 10 years based on the existing floating wind power planning of major countries in the world. However, the installed capacity from 2020 to 2025 will be less than 10% of the predicted value, and by 2025-2030, a large number of floating wind power projects are expected to start and put into operation through large-scale project bidding.
Currently, the UK, Portugal and Japan are the three largest markets for total installed capacity of floating wind power. Korea, France and Norway are likely to be the largest floating wind power markets by 2030. Considering the abundant wind resource potential of China's offshore, it is expected that China's floating wind power will be mainly in the demonstration stage by 2030. (Reference: 1. Global oil and gas giants enter the South Korean market strongly and will build 2.3GW floating offshore wind power projects! 2. The installed capacity of floating offshore wind power in Europe will reach 7GW by 2030. 3. The first floating offshore wind power project in continental Europe will be completed soon. 4. Development status of floating wind power in China)
At present, the contribution of floating wind power to the total installed capacity of wind power is very small, but it will play an increasingly important role in the next decade. It is expected to account for 6% of the world's new wind power capacity by 2030. GWEC anticipates that when floating wind power is commercially viable, it will become another fundamental solution, not just a sub industry of offshore wind power.
Floating foundation design and modular production will be the key to reduce LOCE. GWEC set up a floating offshore wind power working group in July 2020 to unleash future potential.
According to the prediction, the installed capacity of floating wind power will be between 3GW and 19GW by 2030. The specific development degree still depends on whether the industry can reduce the LOCE of floating offshore wind power to an acceptable level.
GWEC predicts that 6.2 GW of floating wind power projects will be built in the next 10 years based on the existing floating wind power planning of major countries in the world. However, the installed capacity from 2020 to 2025 will be less than 10% of the predicted value, and by 2025-2030, a large number of floating wind power projects are expected to start and put into operation through large-scale project bidding.
Currently, the UK, Portugal and Japan are the three largest markets for total installed capacity of floating wind power. Korea, France and Norway are likely to be the largest floating wind power markets by 2030. Considering the abundant wind resource potential of China's offshore, it is expected that China's floating wind power will be mainly in the demonstration stage by 2030. (Reference: 1. Global oil and gas giants enter the South Korean market strongly and will build 2.3GW floating offshore wind power projects! 2. The installed capacity of floating offshore wind power in Europe will reach 7GW by 2030. 3. The first floating offshore wind power project in continental Europe will be completed soon. 4. Development status of floating wind power in China)
At present, the contribution of floating wind power to the total installed capacity of wind power is very small, but it will play an increasingly important role in the next decade. It is expected to account for 6% of the world's new wind power capacity by 2030. GWEC anticipates that when floating wind power is commercially viable, it will become another fundamental solution, not just a sub industry of offshore wind power.
Floating foundation design and modular production will be the key to reduce LOCE. GWEC set up a floating offshore wind power working group in July 2020 to unleash future potential.
Figure: prediction of global floating wind power distribution