March 26 (Renewables Now) - The world installed 60.4 GW of wind power capacity in 2019, of which 70% in China, the US, the UK, India and Spain, the latest Global Wind Report by the Global Wind Energy Council (GWEC) reveals.
Capacity additions were up by 19% from 2018, and 2019 was the second-best year for wind so far. GWEC expected 2020 to be even better, with 76 GW of new wind capacity, but this forecast will change after the full impact of the coronavirus pandemic is known.
“The main driver of  growth was market-based mechanisms, with auctioned wind capacity in 2019 surpassing 40 GW worldwide, accounting for two-thirds of total new capacity and doubling auctioned capacity compared to 2018,” the council said. Its report identifies two major tools that could further accelerate the growth of wind -- shifting the focus from LCOE to building energy markets that support the long-term sustainability of the wind and renewable industries; and using emerging technological solutions such as hybridisation and renewable hydrogen to open new opportunities for the sector.
The global wind power capacity surpassed 651 GW last year. The top five markets by cumulative installations, China, the US, Germany, India and Spain, accounted for 73% of the total. GWEC’s report projects more than 355 GW of wind capacity additions between 2020 and 2024, or roughly 71 GW per year, but that is before the impact of COVID-19 is taken into account. An updated market outlook will be published in the second quarter.