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IEA Wind report gets closer to the truth, but there is more to come

The International Energy Agency came out with a forecast this week which suggests that offshore wind could exceed €1 trillion. Despite stories being written that this is a massive increase in last year’s numbers, we still think the IEA is under-estimating this market. It said that offshore wind will grow to 15 times its current size and in Europe it will become the biggest energy supply source by 2040. But all of us know that the biggest markets for wind are not in Europe, but in Asia and as those countries embrace offshore wind, Asia will push this market faster and further than anyone realizes. Our own forecast for offshore wins is due out before Christmas, and a combination of…

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