Power & Energy

Global wind energy capacity is expected to double up within the coming 5 years

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London- An increase in the global wind energy capacity is expected within the next five years, as the cost is falling rapidly and market return is expected to grow by the end of the decade, as reported by the council. In the annual report stating the status of global wind industry, GWEC remarked that cumulative wind energy capacity stood at 539 gigawatts which were almost 11 percent more than the previous year.

5g due date is arriving soon and this should increase by 56% to a total of 840 giga watt by 2020 end, as different countries have worked to develop more sources of renewable energy which can meet the emission cut target and also the prices continue to decrease. Worldwide, last year around 52.5 giga watt of wind power was added, down slightly from the 54.6 Giga watt in the year 2016. Annual market will surely return to grow in the years 2019, 2020, breaching 60 giga watts barrier one more time, continuing to grow, at a slow rate, in the very starting of the new decade.

Expectation was there to view the total cumulative installation to reach the standard of 840 giga watts by 2020 end. Wind power is more useful and competitive over the few past years, with a transformation from the government subsidies to the auctions which brings down the cost rapidly. As the rise and demand of the wind energy is increasing, several projects and wind farms are being introduced to double up the global wind capacity in the next five years.

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