Global wind capacity expected to increase by more than 50% in five years
The world’s total wind capacity is anticipated to rise by more than 50% in the next five years, according to the Global Wind Energy Council (GWEC).
The GWEC’s annual report suggests that wind capacity could reach 840GW by 2022, up by 56% from the recorded 539GW at the end of 2017.
In 2017, an additional 52.2GW of wind capacity was added to the world, an 11% increase from the total capacity at the end of 2016.
However, 2017’s total of new capacity was 2.1GW lower than the total 54.6GW installed in the previous year.
“The annual market will return to growth in 2019 and 2020, breaching the 60 GW barrier once again and continue to grow, albeit at a slower pace, in the beginning of the new decade,” the reports reads.
“We expect to see total cumulative installations reach 840 GW by the end of 2022,” it continues.
“Overall, offshore prices for projects to be completed in the next five years or so are half of what they were for the last five years and this trend is likely to continue.”