Offshore wind remains vastly underutilized in the United States and other markets relative to its potential. Although marine wind farms currently generate over 80 gigawatts of electricity worldwide, experts say that figure needs to multiply many times over if offshore wind is to play its intended role in the energy transition. The industry has grown quickly, but the gap between what exists and what climate goals require is large and widening.
A 2025 study from researchers at Singapore’s National University found that offshore wind’s potential dwarfs its current use. Tapping just 1% of suitable ocean area globally could supply roughly one-fifth of current worldwide electricity demand. That same utilization rate would cut annual carbon output by more than 2.3 billion metric tons.
Yi Wen, who led the study, said the research also revealed high-potential marine zones that have seen virtually no development. These include ocean areas near southern South America, southeastern Australia, and southern New Zealand.
Its first installation, a small demonstration farm off the Danish coast, began generating power in 1991. By 2015, global offshore capacity had reached 12 gigawatts. Average turbine capacity has risen substantially, from around 5.7 megawatts in 2017 to close to 10 megawatts today. Europe is testing models rated at 15 megawatts.
Construction costs dropped by close to 60% over the past decade as the technology matured. More recent years have brought inflation and supply chain pressures, with some planned projects canceled as a result.
Geographic concentration is a defining feature of the sector. China built up from under 5 gigawatts of offshore wind capacity in 2018 to more than 42 gigawatts by 2025. It holds a dominant share of the world’s operating offshore turbine fleet. The North Sea alone holds over 30 gigawatts across more than 100 wind farms.
America’s development has been significantly curtailed by the current federal administration, while planning is gaining momentum across parts of Latin America and Asia.
Closing the gap between current output and climate goals will require a dramatic acceleration. International benchmarks call for around 500 gigawatts of offshore wind capacity by 2030 and close to 2,500 gigawatts by 2050. Present trajectories suggest the world will reach around 238 gigawatts by 2030.
That falls short of international targets but represents a substantial expansion from today’s installed base. To date, 27 countries have established offshore wind targets, and a further 11 are working toward similar commitments.
Early 2026 brought a significant signal from Europe. Ten nations signed the Hamburg Declaration, committing to develop the North Sea into a shared clean energy hub. The signatories jointly aim for 100 gigawatts from those waters by 2050, as part of a wider regional target of 300 gigawatts.
Unlocking offshore wind’s deeper potential will also require moving beyond shallow coastal waters using floating turbine platforms. Dave Jones of EMBER sees it as a turning point, with the key question being whether growth can accelerate from here.
As systems are put in place around the world to generate more electricity from wind energy, firms like Vision Marine Technologies Inc. (NASDAQ: VMAR) are also focused on reducing emissions in marine transport by spearheading efforts geared at electrifying the industry.
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