Offshore Wind Capacity to Triple by 2030 as Costs Fall Below Fossil Fuels
A new industry report predicts global offshore wind capacity will triple within four years, driven by cost reductions that now make it cheaper than new coal or gas plants.
The Offshore Wind Boom
Global offshore wind capacity is on track to triple by 2030, according to a comprehensive new report from the Global Wind Energy Council. The sector, which ended 2025 at 75 GW of installed capacity, is projected to reach 250 GW by the end of the decade.
Cost Parity and Beyond
The driving force behind the expansion is cost. The levelised cost of energy (LCOE) for offshore wind has fallen 60% over the past decade and now sits below the cost of new coal or gas-fired power plants in most major markets. Floating offshore wind, which can be deployed in deeper waters, is also seeing rapid cost declines.
Key Markets
The UK remains the world leader in installed offshore wind, but China is adding capacity at the fastest rate. The United States, long a laggard, is finally gaining momentum following permitting reforms passed in 2025.
Supply Chain Challenges
The rapid growth is straining supply chains. Turbine manufacturers are struggling to keep up with demand, and port infrastructure upgrades are needed to handle ever-larger turbines. Industry leaders are calling for coordinated government investment in port facilities and grid connections to avoid bottlenecks.
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