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Wind power market to reach 60 GW in 2018, Asia keeps lead

Wind farm in Xinjiang. Author: Mike Locke. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

April 1 (SeeNews) - Annual wind power capacity additions in 2018 will reach 60 GW, with 29 GW of that installed in Asia, the Global Wind Energy Council (GWEC) forecasts.

China will remain the main growth driver in the sector. In 2014 it added an “astonishing” 23 GW of new wind power generation capacity and surpassed a cumulative total of 114 GW. According to GWEC, the country is well on the way to reach its 200-GW wind goal well before 2020.

“Wind power’s growth is increasingly driven by its competitive pricing, as well as because it enhances energy security, price stability and (especially in China) through the need to address the choking smog that is increasingly making major urban areas in the developing world unliveable, said Steve Sawyer, GWEC Secretary General.

India is the other Asian market that is seen expanding substantially in the coming years. In 2014 it installed 2.3 GW reaching a combined capacity of nearly 22.5 GW.

Europe will remain the second biggest wind power market between now and 2019, remaining relatively stable. North America is number three, but it is the most difficult market to predict, GWEC noted, because of imminent “policy vacuums” in both the US and Canada in 2016 or after that.

Forecast by region 2015 2017 2019 Key markets
Asia 26 GW 28 GW 29.5 GW China, India
Europe 12.5 GW 13.5 GW 16 GW Germany
North America 9 GW 8 GW 10 GW  
Latin America 4 GW 5 GW 6 GW Brazil, Mexico
Middle East and Africa 1.5 GW 3 GW 4 GW South Africa,
Egypt & Morocco
Pacific 0.5 GW 1 GW 1 GW  

The world installed nearly 51.6 GW of wind power capacity in 2014, including 1.7 GW offshore. GWEC's Global Wind Report: Annual Market update released today is available here.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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