The Global Wind Energy Council (GWEC) has released its Global Wind Report: Annual Market Update, showing a maturing industry successfully competing in the marketplace, even against heavily subsidized traditional power generation technologies.
More than 52GW of wind power was added in 2017, bringing total installations to 539GW globally. With new records set in Europe, India and in the offshore sector, annual markets will resume rapid growth after 2018, GWEC said.
“Wind power is leading the charge in the transition away from fossil fuels; and continues to blow away the competition on price, performance and reliability,” said Steve Sawyer, GWEC Secretary General. “Both onshore and offshore, wind power is key to defining a sustainable energy future.”
Dramatic price reductions for both onshore and offshore wind continue to surprise, according to GWEC. The offshore wind had its first ‘subsidy-free’ bids in tenders in Germany and the Netherlands, with tenders for nearly 2GW of new offshore wind capacity receiving no more than the wholesale price of electricity.