SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Shanghai Donghai Bridge's 100mw offshore wind power project is China's first national offshore wind power demonstration project in the early morning light of morning in Shanghai, Oct. 4, 2019. (Photo: Costfoto/Barcroft Media/Barcroft Media/Getty Images)
'A Breath of Fresh Air': Offshore Wind Power Could Produce More Electricity Than World Uses
"Let's get going!"
Oct 25, 2019
A new report from the International Energy Agency released Friday claims that wind power could be a $1 trillion business by 2040 and that the power provided by the green technology has the potential to outstrip global energy needs.
"Talk about a breath of fresh air," tweeted writer Steven E. de Souza.
\u201cTalk about a breath of fresh air https://t.co/r2a0bvMXBc\u201d— Steven E. de Souza (@Steven E. de Souza) 1571985817
The IEA report looks at the business of wind power and opines that as investment increases and the technology becomes cheaper, the sector could explode.
The IEA finds that global offshore wind capacity may increase 15-fold and attract around $1 trillion of cumulative investment by 2040. This is driven by falling costs, supportive government policies and some remarkable technological progress, such as larger turbines and floating foundations. That's just the start--the IEA report finds that offshore wind technology has the potential to grow far more strongly with stepped-up support from policy makers.
"Offshore wind currently provides just 0.3% of global power generation, but its potential is vast," said IEA executive director Fatih Birol.
It would take a major infrastructural commitment to develop wind power to the point that the renewable energy resource could take over the majority of global energy needs, but it's not impossible. As The Guardian pointed out Friday, "if windfarms were built across all useable sites which are no further than 60km (37 miles) off the coast, and where coastal waters are no deeper than 60 metres, they could generate 36,000 terawatt hours of renewable electricity a year."
"This would easily meeting the current global demand for electricity of 23,000 terawatt hours," added The Guardian.
Such a change in worldwide energy demand would require a massive investment of "public pressure, business leadership, and political leadership," green group Friends of the Earth said on Twitter.
350 Action founder Bill McKibben saw no need to wait.
"Wind turbines in the shallow parts of the planet's oceans can provide more electricity than the planet uses," McKibben tweeted. "So let's get going!"
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
A new report from the International Energy Agency released Friday claims that wind power could be a $1 trillion business by 2040 and that the power provided by the green technology has the potential to outstrip global energy needs.
"Talk about a breath of fresh air," tweeted writer Steven E. de Souza.
\u201cTalk about a breath of fresh air https://t.co/r2a0bvMXBc\u201d— Steven E. de Souza (@Steven E. de Souza) 1571985817
The IEA report looks at the business of wind power and opines that as investment increases and the technology becomes cheaper, the sector could explode.
The IEA finds that global offshore wind capacity may increase 15-fold and attract around $1 trillion of cumulative investment by 2040. This is driven by falling costs, supportive government policies and some remarkable technological progress, such as larger turbines and floating foundations. That's just the start--the IEA report finds that offshore wind technology has the potential to grow far more strongly with stepped-up support from policy makers.
"Offshore wind currently provides just 0.3% of global power generation, but its potential is vast," said IEA executive director Fatih Birol.
It would take a major infrastructural commitment to develop wind power to the point that the renewable energy resource could take over the majority of global energy needs, but it's not impossible. As The Guardian pointed out Friday, "if windfarms were built across all useable sites which are no further than 60km (37 miles) off the coast, and where coastal waters are no deeper than 60 metres, they could generate 36,000 terawatt hours of renewable electricity a year."
"This would easily meeting the current global demand for electricity of 23,000 terawatt hours," added The Guardian.
Such a change in worldwide energy demand would require a massive investment of "public pressure, business leadership, and political leadership," green group Friends of the Earth said on Twitter.
350 Action founder Bill McKibben saw no need to wait.
"Wind turbines in the shallow parts of the planet's oceans can provide more electricity than the planet uses," McKibben tweeted. "So let's get going!"
A new report from the International Energy Agency released Friday claims that wind power could be a $1 trillion business by 2040 and that the power provided by the green technology has the potential to outstrip global energy needs.
"Talk about a breath of fresh air," tweeted writer Steven E. de Souza.
\u201cTalk about a breath of fresh air https://t.co/r2a0bvMXBc\u201d— Steven E. de Souza (@Steven E. de Souza) 1571985817
The IEA report looks at the business of wind power and opines that as investment increases and the technology becomes cheaper, the sector could explode.
The IEA finds that global offshore wind capacity may increase 15-fold and attract around $1 trillion of cumulative investment by 2040. This is driven by falling costs, supportive government policies and some remarkable technological progress, such as larger turbines and floating foundations. That's just the start--the IEA report finds that offshore wind technology has the potential to grow far more strongly with stepped-up support from policy makers.
"Offshore wind currently provides just 0.3% of global power generation, but its potential is vast," said IEA executive director Fatih Birol.
It would take a major infrastructural commitment to develop wind power to the point that the renewable energy resource could take over the majority of global energy needs, but it's not impossible. As The Guardian pointed out Friday, "if windfarms were built across all useable sites which are no further than 60km (37 miles) off the coast, and where coastal waters are no deeper than 60 metres, they could generate 36,000 terawatt hours of renewable electricity a year."
"This would easily meeting the current global demand for electricity of 23,000 terawatt hours," added The Guardian.
Such a change in worldwide energy demand would require a massive investment of "public pressure, business leadership, and political leadership," green group Friends of the Earth said on Twitter.
350 Action founder Bill McKibben saw no need to wait.
"Wind turbines in the shallow parts of the planet's oceans can provide more electricity than the planet uses," McKibben tweeted. "So let's get going!"
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.