To become climate-neutral by 2050 Europe needs up to 150 GW of floating offshore wind. This is feasible and affordable. But European policymakers need to act now to ensure floating offshore wind can deliver the clean, competitive and reliable energy society wants.
Floating offshore wind will unlock 80% of global offshore wind resources located in deep waters (> 50m). It has the potential to supply more electricity than the entire world consumes today. And it would be clean.
European companies have the tools and experience to take the lead and cement Europe’s leadership. But the EU needs to act now and prioritise funding to bring the technology to maturity, unlock industrialisation and enable large-scale market deployment Large-scale commercialisation of floating offshore wind will bring costs further down similar to bottom-fixed offshore wind.
The global technical potential for floating offshore wind is 18,000 GW. This is a unique opportunity for Europe to demonstrate it is the number one in renewables.
The latest ETIPWind factsheet provides policymakers with an overview of the current state-of-the-art in floating offshore wind technology and the measures needed for commercialisation. Implementing the outlined recommendations will allow Europe to take a decisive lead in a vast and untapped global market and will support European competitiveness.