This note expands on the findings of a recent IEA Insight Paper on renewable energy for industry, exploring further the potential for decarbonising the European industry by replacing fossil fuels with electricity from offshore wind in Northern Europe, either directly or via hydrogen production.
Offshore wind projects create ample opportunities for local value creation. Income and jobs can be maximised by leveraging existing economic activities and building upon domestic supply chains. Education and training, however, must be attuned to emerging needs in the offshore wind industry.
Renewable energy auctions have emerged as an important mechanism to drive the adoption of renewable sources for power generation. Like in other regions, auctions can help countries across sub-Saharan Africa achieve record-low prices for solar photovoltaic (PV) and wind power.
The Global Wind Energy Council (GWEC) released its Global Wind Report: Annual Market Update, showing a maturing industry successfully competing in the marketplace, even against heavily subsidized traditional power generation technologies.