Wind energy sector growth: UK & beyond
Wind farms generate more energy than coal (pic: contributed)
Wind power is now the main contributor In the renewables market, dominating the green energy sector – with enormous potential for growth.
Two years ago wind farms exceeded the amount of energy generated by coal power plants for the first time in the UK.
On Christmas Day 2016, more than 40% of all of the energy generated was from renewable sources, with 75% of this figure coming from wind turbines. This was yet another milestone figure, up from 25% in 2015 and just 12% in 2012.
Coal-fuelled electricity is now at its lowest output for 80 years. So what does the future hold for the wind energy sector in the UK and beyond? Controlled bolting for wind turbines specialist HTL Group looks at the market’s global potential.
Predictions for the next 5 years
Global installed capacity at the end of 2016 was 486,790 MW and this year this figure will hit 607,000 MW and 817,000 MW by 2021.
Europe, North America and Asia are expecting to remain dominant in the wind power markets. By 2021, it’s anticipated that Asia will create 357,100 GW of energy from wind turbines. Europe is expected to hit 234,800 GW, while North America is likely to generate 159,100 GW.
Emerging markets are set to keep developing. Latin America, for example, will be up from 15,300 GW in 2016 to 40,200 GW in 2021. The Middle East and Africa will more than quadruple their output, growing from 3,900 GW in 2016 to 16,100 GW in 2021.
Additional investments will support the wind sector’s continuing growth: €43 billion was spent across Europe in 2016 constructing new wind farms, refinancing, fundraising and project acquisitions — an increase of €8 billion compared to 2015.
The sector seems to be increasing its focus toward offshore wind farms rather than onshore sites. Investments in these two areas saw a drop in onshore by 5% and offshore hit a record-breaking €18.2 billion. Impressively, the UK is leading the way, raising €12.7 billion for new wind energy projects. This overshadows Germany in second place with €5.3 billion.
This article is supplied under the terms of the DB Direct service