Abstract
This Energy Insights report examines the emerging offshore wind energy sector
in Europe and its prospects for North American market penetration. We first
provide an overview of the industry' s steady development abroad as well as its
current status in the United States and Canada. We explore some of the
promising technical advances that are improving offshore wind technologies'
performance and then evaluate project economics. Next, we provide a detailed
accounting of offshore wind activity throughout North America and analyze the
major variables influencing the industry' s outlook. We end with a prognosis for
offshore wind' s near- to medium-term health from regional and global
perspectives.
According to Nadav Enbar, senior research analyst, Energy Insights, "Though a
commercialized offshore wind energy project is yet to debut in North America,
expanding renewable portfolio standard (RPS) and greenhouse gas (GHG) emissions
policy making, an emerging regulatory framework, as well as technical advances
and potential, presage near-term development. Energy Insights is bullish on the
offshore wind energy sector and pegs worldwide growth, primarily in Europe, at
roughly 4,500MW through to 2012. The first U.S. projects will, meanwhile, come
online post-2012, with North American development accelerating to upward of
3,100MW by 2020."
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