In some exciting news for the Renewable Energy Sector, the global wind industry installed a record 117GW of new capacity in 2023, making it the best year for new wind energy so far.

Total installations of 117GW in 2023 represents a 50% year-on-year increase from 2022, according to a new report from the Global Wind Energy Council (GWEC).

Last year was the best year on record for onshore wind capacity, surpassing 100GW in a single year for the first time with a total of 106GW, representing Year-on-Year (YoY) growth of 54%.

Meanwhile, 2023 was the second-best year in history for offshore wind installations with 10.8GW total installed.

Global cumulative wind power capacity passed the first 1TW milestone in 2023, and now totals 1021GW following YoY growth of 13%.

The top five markets for new wind installations  are China, US, Brazil, Germany and India, with China setting a new record of 75GW of new installations commissioned, nearly 65% of the global total.

GWEC has revised its 2024-2030 growth forecast (1210GW) upwards by 10%, in response to the establishment of national industrial policies in major economies, gathering momentum in offshore wind and promising growth among emerging markets and developing economies.

The report highlighted that the wind industry must roughly triple its annual growth from a level of 117GW in 2023 to at least 320GW by 2030 to meet the COP28 and 1.5C degree pathway targets.

GWEC calls on policymakers, investors and communities to work together across the key areas of investment, supply chains, system infrastructure and public consensus, to set the conditions for wind energy growth to take off through to 2030 and beyond.

Ben Backwell, CEO of GWEC, said: "It's great to see wind industry growth picking up, and we are proud of reaching a new annual record.

"However much more needs to be done to unlock growth by policymakers, industry and other stakeholders to get on to the 3X pathway needed to reach Net Zero.

“Growth is highly concentrated in a few big countries like China, the US, Brazil and Germany, and we need many more countries to remove barriers and improve market frameworks to scale up wind installations.

"Geopolitical instability may continue for some time, but as a key energy transition technology, the wind industry needs policymakers to be laser-focused on addressing growth challenges such as planning bottlenecks, grid queues and poorly designed auctions.

“These are the measures that will significantly ramp up project pipelines and delivery, rather than reverting to restrictive trade measures and hostile forms of competition.

“Enhanced global collaboration is essential to fostering the conducive business environments and efficient supply chains required to accelerate wind and renewable energy growth in line with a 1.5C pathway.”

 

Read the full report here.

 

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