More wind farm installations in the energy industry forecast

The Global Wind Energy Council (GWEC, Brussels, Belgium) has issued its Global Wind Report – Annual Market Update, detailing the current status of the global industry, with market projections for 2014-2018.

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The Global Wind Energy Council (GWEC, Brussels, Belgium) has issued its Global Wind Report – Annual Market Update, detailing the current status of the global industry, with market projections for 2014-2018. GWEC expects installations of at least 47 GW of new capacity in 2014, a significant increase over 2013 levels. The market will be led by China, but will show strong recovery in the U.S. market and record installations in Canada and Brazil, with hundreds of megawatts expected in South Africa.

“The global market is back on track for 2014,” says Steve Sawyer, GWEC secretary general. “A strong Chinese market, recovery in the U.S. and an increasing role for emerging economies in the global market means that after 2014, the market will resume its steady if unspectacular growth, and end up just about doubling total global installations during the-five year period to 2018.” 

GWEC cautioned, however, that without a strong global climate policy, market growth is unlikely to return to the 20 to 25 percent or more average growth which has characterized most of the last two decades.

In many markets, today, wind’s most compelling selling point is cost-competitiveness. GWEC says wind already competes successfully against heavily subsidized incumbents in a growing number of markets around the world as the technology and its implementation steadily improve.