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The last couple of years have been turbulent for the global wind industry. However, numerous examples of the past 2014 clearly indicate a new economic recovery observed in the global wind energy sector.
The wind industry set a new record for annual installations in 2014. Globally, 51,477 MW of new wind generating capacity was added in 2014 according to the Global Wind Energy Council (GWEC). The record-setting figure represents a 44% increase in the annual market. Total cumulative installations stand at 369,553 MW at the end of 2014.
In 2014 investment in wind energy rose 11% to a record USD 99,5 bln according to Bloomberg New Energy Finance.
US President Barack Obama is proposing to significantly boost US funding for clean energy in fiscal year 2016.
Obama’s plan proposes $7.4 bln for “green” energy projects. Part of that money includes extending key renewable energy incentives, first of all for wind and solar sectors. The budget also proposes slashing tax incentives for oil and gas companies and supports policies to reduce the use of carbon-emitting coal projects.
China continues to drive global growth, setting a new record in 2014 with 23,351 MW of new wind power, representing 45% of the global market.
India's 2,315 MW was a distant second at the dominating Asian market, although the stage is now set for a new round of market growth in that country.
Official figures from National Grid for January 2015 show that wind energy broke new records for weekly, monthly and half-hourly generation, highlighting the central role wind now plays in the energy mix. January 2015 was the most productive month ever for wind energy, providing 14% of Britain’s electricity (4.13 TWh) - enough to power the equivalent of 8.7 million UK homes.
By the end of 2014, overall UK wind capacity (onshore and offshore) topped 12 GW for the first time, a milestone for the country – enough to supply nearly 7 million households annually.
Danish wind projects supplied 39.1% of Danes’ electricity consumption. This is a new record. As in the previous five years, more power was covered by land-based wind turbines and offshore wind projects in 2014 than the year before. In 2013, the wind power share was 32.7%. The increase to 39.1% in 2014 is partly due to the increase in the installed capacity of wind turbines, and partly due to the improved efficiency of new wind turbines. In the last ten years, Denmark has more than doubled the amount of electricity consumption covered by wind.
For the first time the wind industry in Germany has been able to install 5,279 MW of new capacity in Germany.
VDMA Power Systems and the BWE point out that the significant increase in installation has no impact on electricity prices. On the contrary, cost-effective onshore wind energy plays a role in ensuring that electricity for homes, trades, commerce and industry remains affordable. According to German government plans, renewable energy should make up 40 to 45 % of the power supply by 2025 and at least 80 % by 2050.
Sources: GWEC, International Business Times, Renewable UK, BNEF, Energinet.dk, BWE
December 2014- January 2015.
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