Energy Business Review
Wind energy is one of the major renewable energy sources with a huge potential. It is estimated to play a key role in reducing our dependence of fossil fuels for power generation. In recent years, wind energy sector has witnessed a rapid growth, underpinned by technological advancements.
Wind turbine manufacturers are rolling out new designs to increase energy output from wind farms with reduced costs. Offshore wind power sector is also witnessing a fast growth due to technological innovations.
In its Global Wind Report: Annual Market Update report, the Global Wind Energy Council (GWEC) said that cumulative global wind power capacity grew by 12.6% to reach a total of 486.8 GW in 2016. The cumulative installed capacity is expected to reach more than 800 GW by the end of 2021.