Over the past two decades, as costs have fallen and technology has evolved, renewable energy capacity has skyrocketed. The World Resources Institute estimates that the cost of solar electricity has fallen by 85% since 2010, and the cost of both onshore and offshore wind electricity has halved. Offshore wind energy production has increased at an astonishing rate. In 2010, global offshore wind capacity was just 3.1 gigawatts (GW). By 2020, it had grown to 34.4 GW, more than a tenfold increase. And just three years later, it had nearly doubled to 68 GW—enough to power more than 47m homes for an entire year.
