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Analysis: Europe responsible for future offshore wind

If European politicians are willing to increase the number of auctions and investments in the electricity grid, offshore wind would be able to rapidly grow, shows a new analysis from Boston Consulting Group, which also determines that Europe will shoulder responsibility for global offshore wind growth with potential for hundreds of GW.

Photo: Windpark Noordostpolder

Boston Consulting Group concludes in a new analysis that offshore wind could be a booming business. However, this requires that European policy makers support the industry which has potential to grow to a total value of EUR 700 billion by 2030.

"Whether we see accelerated or business-as-usual growth depends on better auctions, investment in electricity grids, supportive public policies, and power market changes. Wind farm developers, installers, and suppliers need to future-proof their business models by making smart decisions about the evolving landscape and gaining a better understanding of the risks and opportunities associated with a variety of scenarios," write the consultants.

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