LONDON, April 25 (Reuters) – Global wind energy capacity could increase by more than half over the next five years, as costs continue to fall and the market returns to growth at the end of this decade, a report by the Global Wind Energy Council shows.
In its annual report on the status of the global wind industry, the GWEC said cumulative wind energy capacity stood at 539 gigawatts (GW) at the end of last year, 11 percent higher than the previous year.That should increase by 56 percent to 840 GW by the end of 2022 as countries develop more renewable energy to meet emissions cut targets and prices continue to fall, the wind industry association said.
Around 52.5 gigawatts (GW) of new wind power capacity was added worldwide last year, down slightly from 54.6 GW in 2016. The GWEC expects the market to be flat this year but start growing again from 2019.
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