Report: Offshore Wind Energy Surpassed Installed Capacity of 80 GW in 2024

While many critics continue to question the viability of offshore wind energy, the UK trade group RenewableUK is out with a new market analysis highlighting the “extraordinary speed” of growth for the sector. The report details that installed capacity grew by 15 percent in the past 12 months as leading countries accelerated installations and new countries also adopted the increasingly accepted source of renewable energy.

The report calls out several key firsts including that global capacity surpassed 80.9 GW, the first time it has been at that level coming from a base of 70.2 GW just a year earlier. Additional countries are also making process with the first projects including the introductory offshore wind projects in Indonesia, Chile, and Malta which were confirmed in 2024. 

Recently, Greece mapped out its first project while on the other side of the globe, Australia finalized additional zones and reported progress with its likely first projects to win regulatory approval. The United States officially commissioned its first commercial-scale offshore wind farm in 2024 while others are proceeding in the construction phase.

“Our latest EnergyPulse Insights report shows that the global offshore wind market is continuing to grow at an extraordinary speed year after year, as more countries look to seize the industrial, economic, and environmental opportunities which the technology offers,” comments RenewableUK’s Chief Executive Dan McGrail.

The report however also shows a continued concentration among a few countries while others work to accelerate the next phase of growth. Two countries, China (adding 6.9 GW) and the Netherlands (adding 1.7 GW) accounted for 63 percent of the total capacity added in the offshore segment in 2024. Further, for the first time, a single country, China (41 GW installed) now accounts for more than half the industry’s current capacity.

The first offshore wind farm, Vindeby installed in Denmark, was commissioned in 1991. The UK entered the sector in 2003 and by 2008 had become the leader, a position it maintained till 2021. China took the lead in 2021 and two years later in 2023 was over 31 GW. The UK remains second but far behind with 14.7 GW installed and Germany is third at 8.5 GW.

The growth is set to continue predicts RenewableUK reporting that the number of projects in the global offshore wind pipeline has increased from 1,461 to 1,555 over the last twelve months. It notes that the number of countries involved in the sector is up from 41 to 44 as new markets continue to emerge.

The project pipeline they believe looks strong when considering offshore wind farms at all stages of development. The report reviews fully operational, under construction, consented, in the planning system, and early development projects.

China has the largest defined pipeline with 247 GW across 437 projects, while the UK remains in second place with 96 GW across 123 projects. The U.S. has significant potential according to the report with its 79 GW of defined projects placing it ahead of Germany which has 68 GW and Sweden which was reported with 55 GW. Sweden, however, recently blocked many of the projects due to concerns raised by the military for defense and of course, Donald Trump has taken steps since his inauguration to stop the progress in the U.S. industry.

RenewableUK also used the report to highlight the opportunities in the UK. It is urging the UK government to maximize its investment in new offshore wind capacity. Wind energy became the UK’s largest source of electricity surpassing gas in 2024. In the upcoming Allocation round 7, 13 UK offshore wind projects with a total capacity of 7.3 GW are eligible. The government received 72 responses during the consultation round and is expected to launch the next auction in March.

Supporting the growth are also developments in new technology. Media reports indicate Siemens Gamesahas received consent to proceed with the development of a prototype 21 MW offshore turbine that will rial the largest announced in China. RewnewableUK emphasizes a large potential saying the industry cold surpass 254 GW by the end of 2030 while expect the emerging floating offshore wind segment could have 3.9 GW installed by 2030.