Global wind power forecast to more than double by 2020

The world’s cumulative wind power capacity is to more than double by 2020, according to a new report. Despite an overall slump in installations in 2013, the report from analysis firm GlobalData predicts that worldwide wind capacity will grow from 319.6 GW at the end of last year to 678.5 GW by 2020.

Harshavardhan Reddy Nagatham, GlobalData’s alternative energy analyst, said, “The slump in 2013 was largely a product of a decrease in installations in the US and Spain. While there are likely to be further slight falls in annual capacity additions in 2015 and 2016, overall industry growth will not be affected as global annual capacity additions are expected to exceed 60 GW by 2020.”

China, the largest single wind market since it overtook the US by adding a whopping 18.9 GW in 2010, was responsible for 45 per cent of total global annual capacity additions in 2013, the report found. The nation is expected to remain in the lead, with a cumulative wind capacity of 239.7 GW by 2020.

Nagatham commented, “China doubled its cumulative wind capacity every year from 2006 to 2009 and has continued to grow significantly since then. Supportive government policies, such as an attractive concessional program and the availability of low-cost financing from banks, have been fundamental to China’s success.

But, he added, “While China will continue to be the largest global wind power market through to 2020, growth for the forecast period will be slow due to a large installation base.”

Meanwhile, the US is expected to remain the second-largest global wind market, growing from 68.9 GW in 2014 to 104.1 GW in 2020. This growth will be driven primarily by renewable energy targets in several US states, notably Alaska, which aims to get 50 per cent of its power from renewables by 2025, and Texas, whose 2025 goal is 10 GW of installed renewable capacity. 

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