The European offshore wind sector will continue to lead the world market for the foreseeable future, according to a new report showing that the region will have 75% of global installations in six years.

Conducted by Pike Research, the report launched on Tuesday found revenues from offshore wind power production around the world would reach €75 billion by 2017.

Connecting Ireland to France, the UK to Belgium and Germany to Sweden – passing via offshore farms and hub connections – there could be a new network of under-sea electricity cables bringing electricity from where it is created out at sea to where it is consumed.

And new research published today has found that such an interconnected grid could be cheaper than originally expected – an offshore electricity grid in the North and Baltic seas, as opposed to cables that connect individual offshore wind farms to the shore, could in fact result in a €14 billion reduction in investment costs.

Despite persistent problems associated with the global economic crisis and a government fiscal policy deeply paralyzed along partisan lines, the US continues to express great interest in developing its offshore wind industry.

The latest proof of America’s faith in the rapidly-emerging offshore sector occurred earlier this month when Energy Secretary Steven Chu announced €31 million for projects that are expected to speed technical innovations, lower costs, and shorten the timeline for deploying offshore wind energy systems.

Battered by March’s earthquake, tsunami and nuclear accident, Japan was much in the news this past week with announcements that highlighted how emissions-free wind power can help rebuild the world’s number three economy.

With a death toll of nearly 16,000 people and more than 4,600 still missing, the related disasters have caused Japan’s leaders to re-examine commitments to their nuclear industry while encouraging the increased use of wind power and other renewables.

The BBC’s science and environment page today features an interactive graphic on how an offshore wind farm is constructed. It starts with a navigable photo of the Harland and Wolff’s docks in Belfast where the turbines for a new offshore wind farm in the waters off Cumbria, UK are being assembled. Then you can watch videos on the different phases of construction, and finally there are a series of videos at the Ormonde offshore wind farm itself.