Offshore Wind Energy Market Analysis

The offshore sector has long been touted by its supporters as a potentially substantial contributor to the world’s energy mix. The energy yields are higher and more consistent than onshore farms, so the argument goes. Despite this however, offshore wind projects remain largely localised to the European market where the majority of the best quality onshore sites have already been exploited. In other regions, and despite vocal support, offshore wind is sometimes looked upon with derision, an expensive and risky endeavour that promises smaller returns than its land based cousin. Moreover complicated questions of grid connection and shared ownership further dissuade those new to the sector from investing. Whilst offshore turbine technology promises much in the way of progression, the sector still seems unable to shake its reputation as precarious and speculative on the international stage.