Global Wind Energy Capacity to Grow by 112% by 2029: Report

Global wind energy capacity additions are expected to sit at an annual average of 77 GW from 2020 to 2029, representing a growth of 112 percent

Global wind energy capacity additions are expected to sit at an annual average of 77 GW from 2020 to 2029, according to Wood Mackenzie. This represents a growth of 112 percent in global installed capacity from the end of 2019 to the end of 2029. As noted in the research agency’s report, ‘Global Wind Power Market Outlook Update: Q1 2020’, 62 GW of wind capacity was added globally in 2019, which was a 23 percent increase from 2018 and the second-highest annual total after 2015 (63 GW).

“A policy-induced build frenzy in China and the US largely drove an 11.5 GW uptick in 2019 global net capacity additions when compared with 2018. Significant contributions also came from Argentina (+676MW YoY), Mexico (+883 MW YoY), Sweden (+720 MW YoY) and Spain (+1.9 GW YoY),” said Luke Lewandowski, Wood Mackenzie Research Director.

While the story for 2019 was a positive one, 2020 will not be so lucky. The coronavirus outbreak is likely to impact the 150 GW bulge in global wind capacity additions expected from 2020 to 2021, the analysis added.

Further adding that compliance with the EU’s energy and climate targets for 2030 will drive the addition of 225 GW within Europe across the outlook period. “Land constraints in mature countries will push a quarter of Europe’s growth offshore, where the sector will comprise 32 percent of additions in Western Europe and 43 percent of additions in Northern Europe from 2020 to 2029,” said Lewandowski.

Supply chain constraints and delays caused by the coronavirus will curtail near-term growth potential in China, yet developers will still manage to connect 26 GW of wind power to the grid in 2020. Across the 10-year outlook, the agency expects 250 GW of wind power capacity to be brought online in China. Growth in the offshore sector and wind repowering opportunities will bolster onshore development. 

The rest of Asia will add 107 GW between 2020 and 2029. “Additions in India will account for 51 percent of new capacity, as the country works to comply with aggressive targets. “Offshore demand in the rest of the sub-region will add 18 GW – or approximately 35 percent of new capacity – over the outlook period,” added Lewandowski.