Wind set to power 30% of global electricity production by 2050

The report states that wind energy is rapidly becoming the new norm for power generation and will deliver 30% of all global electricity production by 2050, with 12% from offshore wind and 18% from onshore wind. In 2019, mega wind projects achieved a new UK record low of £39.65 (US$51.05) MW/h – a 30% price drop on 2017 prices. New projects such as the 252 MW Liuheng (Guodian Zhoushan Putuo) offshore wind farm in China and the 30 MW Block Island wind farm in Rhode Island, USA will help to expand the potential of global offshore wind. When looking at the future of offshore wind energy, two mega-trends are very clear. Firstly, the relentless drive to reduce the levelised cost of energy (LCoE). Secondly, as a result of the first trend, turbines and wind farms will continue to get bigger.