The offshore wind capacity in the UK could hit 11GW by the end of the decade, according to a new report.
That’s an increase from around 0.3GW in 2006 and 3.7GW in 2013, analysts at GlobalData said. Investment is also expected to jump from $3.3 billion (£2bn) last year to $7.53 billion (£4.6bn) by the end of the decade.
The rise is supported by the nation’s “aggressive” renewable targets, policy backing and a shift towards a greener climate, the report added.
Swati Singh, GlobalData’s Analyst covering Power said: “The UK’s growing concerns over climate change and the security of its energy system will provide sufficient impetus for the country’s offshore wind industry to continue its growth trajectory.”
The UK Government has set a target of generating 15% of energy from renewable sources by 2020.
Siemens is said to dominate the global offshore wind turbine market, accounting for more than 56% of the world’s installed capacity last year.