Reduction of specific capital outlays was to a great extent achieved through the advent of high power turbines that generate economies of scale. Maximum power output of operational wind turbines was 5 megawatt (MW) in 2010 and 10 MW in 2023, according to Global Wind Energy Council. However, operational offshore wind turbines reached maximum capacity of 18 МВт as of year-end 2023. High power turbines have large diameter blades allowing for more efficient generation at low wind speeds. Between 2010 and 2023, maximum diameter of blades used is onshore wind farms increased from 126 to 220 meters, driving up global average wind turbine utilization ratio from 27% to 36%.
Over the next few years, technology trends in the industry will be set by offshore wind power, which is still capital-intensive. Specifically, in 2023 the world’s average commissioning cost of offshore wind parks was more than twice that of onshore installations ($2,800 per kW vs $1,160 per kW), and offshore WPPs accounted for a mere 7% of global wind power capacity (73 out of 1,017 GW). Their commercial appeal will improve with the introduction of wind farms designed for operation at depth. Those are pyramid-shaped installations with four fully submerged converging towers. The axis rotation feature enables the structure to withstand stormy weather.
Another industry-wide trend is a search for solutions for sustainable recycling of retired wind turbine blades. Crushed and ground blades are already processed into polymerized fiber that can be added to slurry to produce tougher concrete slabs and flooring. Another application is the production of chopped glass strand to be used in manufacturing asphalt mesh that provides uncompromised impact resistance even with a thinner layer of pavement.