According to the Global Wind Energy Council (GWEC), more than 51 GW of wind power capacity were installed globally in 2014.
GWEC's Global Wind Report 2014, launched on 1 April, explores growth in new wind power generating capacity during the year and provides an updated five-year market projection for the sector.
1 April 2015: According to the Global Wind Energy Council (GWEC), more than 51 GW of wind power capacity were installed globally in 2014. GWEC’s Global Wind Report 2014, launched on 1 April, explores growth in new wind power generating capacity during the year and provides an updated five-year market projection for the sector.
The GWEC Global Wind Report finds that 2014 marked a record year for the industry, with new installations representing a significant increase from 2013 and 2012 when global installations totalled 36 GW and 45 GW, respectively. Consequently, at the end of 2014, total global wind capacity stood at 370 GW. Similar growth was registered in investments, with total investments in the wind sector in 2014 rising by 11% from the previous year, to US$99.5 billion.
According to the report, growth in the sector was driven by China, which added 23 GW of new capacity. As a result, 2.8% of China’s total electricity generation in 2014 came from wind power. Overall, following a trend from previous years, the majority of wind power installations in 2014 were outside the Organisation for Economic Co-operation and Development (OECD) countries. At the end of 2014, six countries in the world had a total wind power generation capacity of over 10 GW, namely: China (115 GW), the US (66 GW), Germany (39 GW), Spain (23 GW), India (22 GW) and the UK (12 GW).
On market projections, the report expects 2015 to be “another good year” but finds a “complex [picture] across various regions,” with: stability in Europe ensured by the EU’s framework legislation and 2020 energy targets; strong performance in China, the US and Canada; and continued growth in emerging markets in Africa and Latin America. After 2015 or 2016, GWEC projects policy uncertainty in North America to cause a downturn in the region, and possibly beyond, and expects Asia to continue to dominate global wind markets for the next four to five years. On capacity expansions, GWEC expects new global installations to reach 50 GW again in 2015 and 60 GW per year by 2018.
GWEC is an international industry trade association that works to improve policy environments for wind power. Through its members GWEC represents more than 1,500 companies, organizations and institutions in more than 80 countries. The Council has published Global Wind Reports annually since 2006. [GWEC Press Release] [GWEC Global Wind Report Webpage] [Publication: Global Wind Report: Annual Market Update 2014]