Wind - Market Update
10 August 2020
Ongoing innovations and technology enhancements in wind energy are facilitating massive wind power potential. A number of market drivers including decreasing costs, favourable government policies, private sector initiatives and growing electricity demand are fueling the growth of the wind power sector, particularly offshore wind.
Offshore wind power might become a ‘game changer’ for energy systems.
With the onset of mega- wind turbines, coupled with smart turbines (AI) and hybridisation (storage) offshore wind capacity is forecast to grow by over 80 GW till 2024, achieving an impressive CAGR of more than 25% over this period.
To learn more about how the WIND power market is attracting investment, even throughout the pandemic, download our market update.
Source BDO Global