Ever-increasing competitiveness and emergence of important new markets to help drive wind past 60GW of annual installations, says report
Annual wind power additions will flatline in 2018 but see “dramatic growth” from next year, buoyed by ever more competitive power prices and the emergence of major new markets, according to the Global Wind Energy Council (GWEC).
At 52.9GW, this year’s global installations will barely move from the 52.5GW added in 2017 as policy factors weigh on key markets such as Germany, India and the UK, says GWEC’s latest Global Wind Report: Annual Market Update.
However, 2019 will see a “return to dramatic growth” with 57.5GW installed, followed by 62.4GW in 2020 and 62.6GW in 2021.
The GWEC forecast period ends with 66.5GW of installations in 2022 to give global wind a cumulative 840.9GW capacity, up from 539.1GW at the end of 2017.
The GWEC update says wind will reap the rewards of its ever-increasing cost-competitiveness, which has already seen power prices below $20/MWh for Mexican onshore wind and zero-subsidy outcomes for offshore tenders