According to the Global Wind Energy Council (GWEC) annual report 2023, the wind sector can anticipate record installations in both onshore and offshore markets by 2025, with 680 GW of new capacity anticipated by 2027.
By 2025, the wind sector can anticipate record installations in both onshore and offshore markets, with 680 GW of additional capacity anticipated by 2027, according to the Global Wind Energy Council (GWEC) annual report 2023.
Following a disappointing year in 2022, a rapidly changing policy landscape has created the ideal conditions for accelerated deployment over the following years. The industry is expected to install 136 GW annually, with a compound growth rate of 15%.
Whether the world can implement the energy transition within the required period and at what cost will depend heavily on the decisions taken by policymakers. While efforts to further encourage supply chain investment and increase regional diversity and resilience are to be applauded, attempts to impose strict local content requirements or implement protectionist trade measures run the risk of significantly raising costs or even delaying the development of wind and renewable energy sources.
Around the world, new policies aimed at expediting the deployment of safe, renewable energy are being implemented, and GWEC anticipates a steady increase in growth over the next ten years and beyond. But for implementation to be successful, officials must take prompt action to remove market and regulatory barriers, allowing investment to flow into new factories and preventing future bottlenecks.
According to IRENA’s most recent data, 2022 saw the most rise in renewable energy capacity to date. The world supplied an astounding 83% of the additional power added globally, increasing the stock of renewable energy by 9.6%.
One of the sources of energy with the fastest growth is still wind. We are not moving quickly enough, according to the most recent IPCC message. A major expansion of renewable energy options is one of the most practical ways to stop the rise in global temperatures. By the middle of the century, renewable energy must triple if we are to stay on the 1.5C road.