Published on April 2nd, 2015 | by Joshua S Hill11
2014 A Record Year For Wind, Emerging Markets Driving Global Wind Energy Growth
April 2nd, 2015 by Joshua S Hill
The Global Wind Energy Council has released its flagship report highlighting global wind energy growth throughout 2014, led by emerging markets in Africa and Latin America.
With 2014 sitting as another record year for the global wind industry, following annual installations surpassing 50 GW, and investments into the wind energy sector rising by 11%, much focus has been given to what 2015 and the years following will look like for wind energy. The Global Wind Energy Council (GWEC) Global Wind Report: Annual Market update report, released in Istanbul on Wednesday, also highlighted the important role emerging countries are playing in the global wind industry: China installed 23 GW of new wind capacity in 2014, bringing its cumulative total up to a staggering 114 GW. Brazil was the world’s 4th largest installer in 2014, and entered the top 10 cumulative rankings for the first time. The African wind energy market also took off in 2014, while Germany, Chile, Canada, and Turkey also had record years.
“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 unlivable,” said Steve Sawyer, GWEC Secretary General.
“The need for clean, sustainable indigenous power sources to fuel economic growth throughout Africa, Asia and Latin America is increasingly being met through wind power, and this will continue for the foreseeable future”.
The Global Wind Energy Council’s annual regional forecast sees Asia dominating the market, followed by Europe and North America both holding relatively steady but at a much lower rate. Latin America is expected to grow considerably over the next several years, while the Pacific and Middle East and Africa regions will also see slight growth.
Subsequently, cumulative market growth will see Europe and Asia stay relatively close until 2018, at which point Asia will quickly begin to pull away. North American cumulative capacity is relatively staid, while Latin America should reach 33.5 GW by 2019.
For 2015, GWEC believes the global wind energy market will surpass 50 GW again, and could reach 60 GW in 2018. And with the Paris summit due later this year, the Global Wind Energy Council is urging countries to focus on the possibilities of wind energy:
“Looking ahead to the UN climate summit in Paris at the end of the year, we call on governments to wake up to the renewable energy revolution in the power sector, and set ambitious targets to reduce greenhouse gas emissions,” added Sawyer.
Check out our new 93-page EV report.
Join us for an upcoming Cleantech Revolution Tour conference!