2023 Crown Estate Report: Future Trends and Growth in Offshore Wind
Significant Market Growth in Offshore Wind
The Offshore Wind industry saw its inception in the UK almost 25 years ago when the first turbines were installed. Since then, the industry has grown exponentially, and has proven remarkably resilient in the face of adversity.
Today, Offshore Wind is a major player in providing energy to homes and businesses in the UK, helping move the world towards a greener and more sustainable future. The Crown Estate’s 2023 Offshore Wind Report gives a broad, up-to-date view of the UK Offshore Wind market.
“The Crown Estate’s purpose is to deliver lasting and shared prosperity for the nation, using the land and seabed we manage to help catalyse Net Zero, restore nature, create thriving communities, and deliver national value. When it comes to our work managing the seabed, this means taking a strategic and long-term view of this vital resource.” - (Crown Estate Offshore Wind Report 2023)
Crown Estate Offshore Wind Report Infographic
The Last Year
Here are the main takeaways from the report, including industry growth, new opportunities, current challenges and what this means for the world’s sustainability goals. With this information, we can look to the future of Offshore Wind as we move towards global NetZero targets.
The highlights show significant market growth, with offshore wind farms producing 49TWh in 2023, powering 50% of UK homes (the equivalent of 14.2 million houses), and 17% of the UK’s total electricity. This is good news for the environment, as it means that 18.5 million Tonnes of Co2 were displaced this year in favour of renewable energy sources.
In the European Offshore Wind market, the UK is still an industry leader, responsible for 43% of all European Offshore Wind capacity generated in 2023 from the 52 wind farms currently in operation.
The Future
2023 marks a positive step for the future of renewable energy. However, to see the growth needed to meet global NetZero targets, we will need to maintain this level of investment and innovation throughout the coming years. The Crown Estate report indicates that the UK Offshore Wind capacity is set to increase from its current 15GW to a target 50GW capacity by 2030.
As well as market growth, UK Offshore Wind has also seen new and innovative approaches to past challenges this year. This includes the emergence of innovative technologies, programs and initiatives that aim to increase the effectiveness of Offshore Wind and decrease the cost, making it easier and more accessible for large-scale production.
Floating Wind has been under major development in 2023, with a predicted 4.5GW of electricity predicted to be generated through further innovation. Read more about the future of floating wind here.
Offshore Wind has provided over 30 thousand jobs in 2023, with a view to increasing that figure to around 100,000 thousand by 2030. With the help of our specialist consultants, ersg places top candidates in Offshore Wind roles. We are market leaders in sourcing talent for a sustainable tomorrow.
Contact Us
If you are seeking new hires in Offshore Wind, or you’re a candidate looking for a role, please contact Kris Braakensiek, Divisional Director at [email protected]
