Global wind power capacity reached 539GW at the end of last year, with the 52GW added in 2017 close to the 54GW installed in 2016, according to a new report from the Global Wind Energy Council (GWEC).
The GWEC paper – 'Global Wind Report: Annual Market Update' – said regulatory changes in Germany, India and the UK will mean 2018 will also see a similar level of growth to last year before ramping up in 2019.
It expects over 60GW of new capacity to be added in 2020 with total installed wind farms to reach 840GW by 2022.
GWEC projected the US market to remain strong at least through 2020, while Brazil will dominate in Latin American markets, followed by Argentina.
Wind supplied 11.6% of the EU's electricity last year, with Denmark leading the way with 44% of its power coming from the sector.
The report also highlighted price reductions for both onshore and offshore wind. It noted markets in Morocco, India, Mexico and Canada around $0.03 per kilowatt-hour, while offshore tenders in Germany and the Netherlands will result in about 2GW of subsidy-free projects.
GWEC secretary general Steve Sawyer 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.
“Both onshore and offshore, wind power is key to defining a sustainable energy future.”
Image: Free Images/Hyoung Il So