The latest predictions from the Global Wind Energy Council (GWEC) suggest that wind capacity could reach 840GW by 2022, up by 56% from the recorded 539GW at the end of 2017. Overall 2017 showed a fairly steady state for wind, with growth of 11% or an additional 52.2GW of wind capacity above the end of 2016. According to GWEC, dramatic price reductions for both onshore and offshore wind continue to be announced. Offshore wind had its first ‘subsidy-free’ bids in tenders In Germany and the Netherlands, with tenders for nearly 2GW of new offshore wind capacity receiving no more than the wholesale price of electricity. Global wind capacity is set to increase by more than half within the next five years, with GWEC expecting a growth spurt from 2019.

Source: Forbes April 25, 2018 18:56 UTC