Wind power to reach 47 gigawatts in 2014 – G.W.E.C.

According to the G.W.E. C., the global wind market is set to be back on track for 2014 with a dramatic increase in installations over 2013 levels.

The wind market is expected to reach installations of at least 47 gigawatts in 2014.

The Global Wind Energy Council has just released their newest Global Wind Report-Annual Market Update, updating the status of the global wind industry and making market projections for the years 2014-2018.

According to the G.W.E. C., the global wind market is set to be back on track for 2014 with a dramatic increase in installations over 2013 levels.

In 2013, the world had seen more than 35 GW of new wind power capacity brought on line, a decline from the 45 GW it had seen installed in 2012. The decline was seen as brought about by political uncertainty in the United States and the economic slowdown in Europe, the traditional markets for wind power.

In the absence of a strong market in the U.S. and Europe, China stepped up to the plate, becoming the largest wind power market in the world in 2013. According to G.W.E.C. market predictions, China will continue to lead in 2014, helping to drive the markets renewed market growth along with a revived U.S. market.

“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,”said Steve Sawyer, G.W.E.C.’s secretary general.

This trend towards market diversification is expected to continue over the next several years with new markets increasing and driving the growth of the wind power industry. G.W.E.C. analysts are predicting record installations in Canada and Brazil in the years to come and a rise in installations in South Africa.

However, G.W.E.C. cautioned that market growth will also depend on a strong global climate policy if it is to return to the 20-25 percent or more average growth which characterized most of the last two decades.

“Wind is now a mainstream technology, and a central part of electricity market development in an increasing number of countries,” continued Mr. Sawyer. “But for the industry to reach its full potential, it is essential that governments get serious about climate change, and soon.”

As technology and implementation improves, wind is already beginning to reach cost-competitiveness to traditional energy generation in many markets around the world. The potential of the industry to generate jobs is also a strong driver for many countries to invest in their wind industry. – EcoSeed Staff

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