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As Global Energy Demands Grows, So Does Appetite For Offshore Wind

March 26, 2019

Via: Forbes

Global energy demand is now increasing at its fastest pace in over a decade, with fossil fuels meeting 70% of that growth in electricity consumption. As fossil fuel emissions continue to exacerbate the effects of climate change, carbon-free solutions like nuclear, solar power, and wind power are becoming a more important part of the world energy demand equation.

Of these clean energy options, wind is experiencing a serious production boom, but not just traditional onshore farms. According to a recent study released by Global Industry Analysis, offshore wind capacity is forecast to grow by over 80 gigawatts (GW) through 2024, achieving an impressive Compound Annual Growth Rate (CAGR) of more than 25% in that period.

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