A report by the International Energy Agency ( IPA ) has claimed the offshore wind industry will be worth $ 1tn within the next 20 years . Birol said he expected the average generation cost for global offshore wind to halve to $60 per megawatt hour already in five years, Birol said. A combination of steep cost reductions and improved technology will unlock the full potential of offshore wind , according to the study , eliminating up to seven billion mt of carbon emissions from the global energy sector . While the technology currently accounts for just 0.3 % of global electricity generation , capacity is set to increase dramatically over the next two decades .
A report by the International Energy Agency ( IPA ) has claimed the offshore wind industry will be worth $ 1tn within the next 20 years . A combination of steep cost reductions and improved technology will unlock the full potential of offshore wind , according to the study , eliminating up to seven billion mt of carbon emissions from the global energy sector . While the technology currently accounts for just 0.3 % of global electricity generation , capacity is set to increase dramatically over the next two decades .