GWEC’s latest market data shows another 52GW of wind was installed in 2017, bringing the global total to almost 540GW.
Beyond the statistics, however, is the fact that wind power is in a rapid transition to becoming a fully commercialised, unsubsidised technology that is successfully competing against heavily subsidised fossil and nuclear incumbents.
Cratering prices for both onshore and offshore wind continue to surprise. Markets in such diverse locations as Morocco, India, Mexico, and parts of the US and Canada range in the area of $0.03/kwh, with a recent Mexican tendercoming in with prices below $0.02. Meanwhile, offshore wind had its first ‘subsidy-free’ tender in Germany this year, with tenders for new offshore capacity receiving no more than the wholesale price of electricity.