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| Global wind energy markets will continue to boom The 2009 industry forecast predicts that the word's wind energy capacity will nearly triple in the next five years, following a decade of spectacular growth. This development will be led by tremendous growth in China, and steady expansion in Europe and North America. GWEC predicts that in 2013, five years from now, global wind generating capacity will stand at 332 GW, up from 120 GW at the end of 2008. During 2013, 56.3 GW of wind generating capacity will be added, more than double the annual market in 2008. The year-on-year growth rates during this period will average 22%, which is modest compared to an average increase of 28% over the last ten years. GWEC will present its annual "Global Wind 2008 Report" at the European Wind Energy Conference in Marseille on 17 March 2009. The report includes a five year forecast for the development of the global wind energy market. In the past, these projections have regularly been outstripped by the actual performance of the sector and have had to be adjusted upwards. Despite the economic downturn, this year is no exception. For the past several years, two markets have continuously outperformed GWEC's most optimistic expectations - the US and China. For the next year or two, developments in the US are expected to be hampered by a lack of financing and the overall economic downturn, before the stimulus package will start having a major impact on the market. At the same time, growth in China is set to continue at a breathtaking rate, driving a substantial increase in global wind energy installations in the coming years. The continued expansion of global wind generation capacity is driven by three markets: China, Europe and the US. China has been doubling its installed capacity every year for the past four years, and growth is expected to continue at a tremendous rate. This development is underpinned by a very aggressive government policy supporting the diversification of the electricity supply, the growth of the domestic industry, and making significant investments in transmission infrastructure. China is set to become the world's largest market for new installations in 2009. In Asia overall, the total wind generating capacity is expected to reach 117 GW by 2013, up from just 24 GW in 2008. Wind energy development in the US will see a small drop in 2009 as a result of tightening project finance. However, with the package of measures recently agreed by the US Congress, and the prospect of national emissions reduction legislation, the market will quickly recover. Over the next five years, a total of 55 GW of wind power capacity will be added in North America bringing the total to more than 82 GW. Europe will continue to have the largest installed capacity up to 2013 - 118 GW - driven by binding European legislation requiring 20% of total final energy consumption to come from renewable sources by 2020. By 2013 the annual market will reach 12.5 GW. write your comments about the article :: © 2009 Construction News :: home page |