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Friday, 18 March 2011

Wind market forecast predicts fair breeze ahead

A new five-year industry forecast has predicted a pick up in the wind energy market, with more than 40 GW of new capacity being added in 2011. By 2015, the Global Wind Energy Council (GWEC)'s annual report expects globally installed wind power capacity to have more than doubled to 450 GW from 194.4 GW at the end of 2010. The 'Global Wind Report: Annual Market Update 2010' assumes an average growth rate of 18.2% per year for wind, compared to 28% cumulative capacity growth over the last decade. By 2015, annual market additions are expected to reach 60.5 GW, up from 35.8 GW in 2010. "2010 was a tough year also for our industry, but 2011 is looking up," GWEC Secretary-General Steve Sawyer said in a statement. "We've paid the price for the 2008/9 financial crisis last year," he added. 2010 saw strong investments in wind power, which at the height of the recession rose 31% on 2009 to $96 billion, a record level. The main driver of wind market growth is expected to remain China, which made up almost half of the global capacity additions (16.5 GW) last year.

Source: Euractiv