{"id":2319,"date":"2022-10-24T13:21:27","date_gmt":"2022-10-24T13:21:27","guid":{"rendered":"https:\/\/investinlatam.org\/?p=2319"},"modified":"2022-10-24T13:21:28","modified_gmt":"2022-10-24T13:21:28","slug":"dnv-offshore-wind-energy-could-increase-more-than-50-fold-by-2050","status":"publish","type":"post","link":"https:\/\/investinlatam.org\/en\/dnv-offshore-wind-energy-could-increase-more-than-50-fold-by-2050\/","title":{"rendered":"DNV: “Offshore Wind Energy Could Increase More than 50-fold by 2050”"},"content":{"rendered":"\n

Offshore wind capacity could increase 56-fold by 2050<\/strong>, driven by the growing need for decarbonization and energy security, and falling costs, as according to a DNV <\/strong>report, levelized costs for floating and background power are forecast to fall 39% and 84%, respectively.<\/p>\n\n\n\n

In its sixth edition of the Energy Transition Outlook<\/mark><\/strong><\/a>, DNV <\/strong>states that offshore wind power records an average annual growth of 13% between 2020 and 2050, and will account for 25% of total grid-connected wind capacity.<\/p>\n\n\n\n

In terms of wind technology, onshore wind will increase seven-fold and offshore wind will increase 56-fold (35 GW in 2020), with Europe and the Pacific expected to be the key regions where offshore wind will generate more power than onshore wind.<\/p>\n\n\n\n

According to the report, one third of grid-connected electricity supply in 2050 will be wind<\/strong>: 75% from onshore wind, 22% from fixed offshore wind and 3% from floating offshore wind.<\/p>\n\n\n\n

On the other hand, the installed capacity of grid-connected wind power, which reached 743 GW in early 2020, is expected to increase to 2 TW in 2030 and 6 TW in 2050. Of these, 1.8 TW will be installed offshore, and 289 GW of that offshore capacity will come from floating wind farms.<\/p>\n\n\n\n

\"DNV\"
Table: DNV<\/figcaption><\/figure>\n\n\n\n

You may also be interested in<\/strong>: “Solar installations will increase fivefold by 2038,” according to Rethink Energy<\/mark><\/strong><\/a><\/p>\n\n\n\n

Report details<\/h2>\n\n\n\n

The factors driving this growth in offshore wind capacity are larger turbines, larger projects, a more dedicated offshore supply chain, as well as increased support for offshore wind construction in countries with limited onshore areas.<\/p>\n\n\n\n

The report notes that the mid-century global power system will rely 70% on variable renewable energy sources<\/strong>, while coal (4%) and gas (8%) will decline significantly by then, when they will mainly provide flexibility and support to the power system.<\/p>\n\n\n\n

The share of offshore wind in total wind electricity generation (on- and off-grid) will increase to 34% by 2050 and 6% of it will be floating<\/strong>, according to DNV<\/strong>, which says Europe will continue to rank first in terms of the percentage of regional electricity demand supplied by fixed and floating offshore wind.<\/p>\n\n\n\n

To reach net zero, DNV <\/strong>says that electricity from wind power will have to rise from 6% of electricity generation in 2020 to 29% in 2050<\/strong>. In this case, onshore wind will have to increase ninefold, while fixed offshore wind in the background will have to increase its share of the electricity generation mix from 0.41% in 2020 to 9%.<\/p>\n\n\n\n

From 2040 onwards, 38% of new electricity installations would be offshore wind farms<\/strong>, according to the consultancy’s projections. According to these figures, 3 GW of onshore wind power will be installed for every GW of background fixed offshore wind power between 2020 and 2030, and only 2 GW of onshore wind power for every GW of offshore wind power from 2035 onwards.<\/p>\n\n\n\n

Regarding green hydrogen, DNV <\/strong>notes that it will only supply 5% of global energy demand in 2050<\/strong>, and will have a 14% share by 2050. “Hydrogen is an integral part of the net zero strategies being developed by many countries and is urgently needed for the decarbonization of hard-to-eliminate sectors,” the report states.<\/p>\n\n\n\n

As for hydrogen production from wind power, DNV <\/strong>sees some 2.3 TW of off-grid wind capacity built for hydrogen production between now and 2050, in addition to grid-connected wind capacity.<\/p>\n\n\n\n

According to the report, investments in renewables and on-grid power must increase much faster<\/strong>, and much greater policy intervention than today is needed, as the planet remains on track to warm by 2.2 \u00b0C by 2100.<\/p>\n\n\n\n

\"DNV\"
Graphic: DNV<\/figcaption><\/figure>\n\n\n\n

To access the DNV <\/strong>report, click here<\/mark><\/strong><\/a><\/p>\n\n\n\n

Written by Antonio Vilela<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Offshore wind capacity could increase 56-fold by 2050, driven by the growing need for decarbonization and energy security, and falling costs, as according to a DNV report, levelized costs for floating and background power are forecast to fall 39% and 84%, respectively. In its sixth edition of the Energy Transition Outlook, DNV states that offshore…<\/p>\n","protected":false},"author":3,"featured_media":2316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[7],"tags":[53,30],"class_list":["post-2319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-green-hydrogen","tag-renewable-energy"],"_links":{"self":[{"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/posts\/2319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/comments?post=2319"}],"version-history":[{"count":1,"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/posts\/2319\/revisions"}],"predecessor-version":[{"id":2320,"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/posts\/2319\/revisions\/2320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/media\/2316"}],"wp:attachment":[{"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/media?parent=2319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/categories?post=2319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investinlatam.org\/en\/wp-json\/wp\/v2\/tags?post=2319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}