2019-06-17
http://w3.windfair.net/wind-energy/pr/31017-wood-mackenzie-report-reaserch-expert-market-outlook-global-wind-energy-increase

Wood Mackenzie Expects 723GW of New Global Wind Power in the Next Decade

Wood Mackenzie Power & Renewables have published their new 'Global Wind Power Market Outlook Update: Q1 2019' report.

Image: PixabayImage: Pixabay

According to the report, 50.2GW of new wind power was added globally in 2018 which is a 4% increase to 2017 and the third highest annual total on record,

Commenting on the research, Luke Lewandowski, Wood Mackenzie Power & Renewables Research Director, said: “This significant level of investment seen last year was largely driven by a resurgence in China. The lifting of red warnings in key Northern provinces in China unlocked development, contributing to a 37% uptick YoY in the country (+5.6GW), that influenced nearly 2GW of net capacity additions globally last year. The expiration of legacy subsidy programs in Europe tempered YoY gains in China, with countries in Northern Europe (-26% YoY) and Western Europe (-36% YoY) hit the hardest as the RO (UK) and FiTs (Finland and Germany) phased out.”

Meanwhile, the U.S. wind industry is expected to shift fully into execution mode from 2019-2021 in order to fulfil PTC ambitions. During this timeframe, the researchers expect 48% of the U.S. 10-year outlook to come online. “Mitigation strategies to be employed against execution risk and robust C&I demand both support near-term expectations, while the strengthening of state-level targets and innovation will drive long-term development,” added Mr. Lewandowski.

2019 saw a challenging start for Latin America, as unfavourable dynamics unfolded in Mexico and no awards were given in Colombia’s inaugural auction. Discussing the wind market in Latin America, Mr. Lewandowski said: “The cancellation of Mexico’s long-term auction and a critical HVDC line stymie growth potential puts a greater emphasis on the maturation of developing markets, several of which lack a schedule for the next round of auctions. Despite these challenges, the region boasts a 10-year compound annual growth rate (CAGR) of more than 10%.” 

Aggressive renewables targets in India and explosive growth in the offshore sector are expected to drive a 10-year CAGR of 12.2% in Asia Pacific, excluding China. “Target compliance in India is likely to bifurcate the next decade’s outlook, with near-term challenges posing issues for the 2020 target. Cumulative offshore capacity in the region will reach almost 19GW from just 111MW at the end of 2018, led by growth in Japan, Taiwan and South Korea.

“China’s market recovery will continue, as additional provinces in the north work to lift red warnings, supporting 250GW of capacity through to 2028. The annual share of offshore wind in China will average 18% of annual capacity from 2022 to 2028, as a result of onshore grid constraints and saturation,” added Mr. Lewandowski.

 

Source:
Wood Mackenzie
Author:
Windfair Staff
Keywords:
Wood Mackenzie, report, reaserch, expert, market outlook, global, wind energy, increase




Corr Members

  • Newlist_logo.rotor-energy
  • Newlist_logo.softenergy
  • Newlist_geonet_logo
  • Newlist_cga_logo
  • Newlist_gwec_logo_new
  • Newlist_lap_logo
  • Newlist_tuev_nord_logo_blau
  • Newlist_windfair_logo_pos
  • Newlist_hannover_messe_logo
  • Newlist_windfair_logo_pos
  • Newlist_logo.eurowind
  • Newlist_logo.gewind
  • Newlist_logo.lincoln
  • Newlist_bmu_logo
  • Newlist_windenergy_logo
  • Newlist_logo.awea
  • Newlist_logo.windkraft-gutachten
  • Newlist_logo.wind-consult
  • Newlist_skf_corp_logo_rgb_office_r
  • Newlist_logo.dmt
  • Newlist_logo.reel

more results



Keyword Search

© smart dolphin Gmbh 1999 - 2019 | Legal Notice | Windfair Editors | Privacy Policy