More than 680 gigawatts (GW) of new wind power is expected to come online around the globe in the next decade, according to new research from Wood Mackenzie Power & Renewables.
Wood Mackenzie announced this week that it had upgraded its Wind Power Market Outlook Update: Q4 2018 by 2% compared to only a quarter ago, with the majority of the expected growth to occur in the medium-term, boosting annual capacity additions from 2020 to 2023 by an average of 2.7 GW.
However, it is the long-term outlook which is most impressive, with Wood Mackenzie analysts forecasting that more than 680 GW worth of new wind power — both onshore and offshore — will be brought online through 2027.
In Europe, Wood Mackenzie expects the maturation of the region’s offshore wind sector will act as a strong driver of growth, while both Japan and South Korea are expected to boast an offshore base of over 2 GW each — not bad, considering neither country has more than 100 megawatts worth of offshore capacity. Continue reading “More Than 680 Gigawatts Of New Wind Power To Come Online By 2027”