Key Numbers
- China 2024: 8 GW of offshore wind installed (Ember)
- Global targets: 263 GW across 27 countries
- Investment: Renewable investment jumped 38% to $480 billion globally (IEA 2024)
- Cost trend: Offshore wind LCOE fell 10% in 2024
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The Paradox
The technology works. The economics are improving. Yet every market has seen projects cancelled or delayed — not from market signals, but from policy whiplash.
The installation bottleneck isn't about technology readiness anymore. It's about specialized vessels, port infrastructure, and skilled labor. China's state-directed investment in these gives it a structural advantage competitors can't easily cross.
Without policy consistency, offshore wind's potential remains untapped — regardless of how competitive the technology becomes.