Global Wind Report

The Global Wind Energy Council (GWEC) has reported unprecedented growth in wind energy capacity in 2024. A total of 117 gigawatts (GW) were added globally, raising total capacity to 1,136 GW. However, the annual Global Wind Report identified challenges that threaten to derail future progress. These include policy instability, inadequate permitting processes, and insufficient grid infrastructure. The urgency for improving these areas is critical as the world aims to triple renewable energy capacity by 2030.

Record Installations and Regional Disparities

In 2024, China led the world in new wind installations, contributing 79,824 megawatts (MW). The USA, Germany, and Brazil followed in the top five. Notably, while Asia-Pacific and Africa showed growth rates of 7% and 107% respectively, North America, Latin America, and Europe experienced declines. This disparity puts stress on the uneven distribution of wind energy development.

Offshore Wind Developments

2024 marked a breakthrough year for offshore wind, with 56.3 GW awarded globally. Europe accounted for 23.2 GW, while emerging markets like South Korea and Taiwan also made contributions. The GWEC forecasts continued growth in offshore wind, expecting installations to rise from 16 GW in 2025 to 34 GW by 2030.

Financial and Policy Challenges

The wind energy sector faces multiple challenges. Financial pressures, rising trade barriers, and inadequate auction systems threaten investment stability. Policy instability in key markets is particularly concerning, as it hampers the necessary growth to meet climate goals. The GWEC warns that without addressing these issues, the wind sector may fall short of the capacity required to achieve net-zero emissions by 2030.

Future Projections and Goals

GWEC projects that 981 GW of new wind capacity will be added by 2030. To meet climate targets, annual installations must increase . The report estimates that reaching approximately 320 GW per year by the decade’s end is essential. This ambitious target requires coordinated efforts among governments, industry, and financial institutions.

The Role of Policy and Investment

The report emphasises the need for stable market frameworks and supportive policies to encourage growth. Improved permitting processes and innovative auction designs are critical to reducing investor risks. The call for international cooperation and targeted investment is urgent to ensure the wind energy sector can contribute effectively to global climate goals.

Month: Current Affairs - April, 2025

Category: Environment Current Affairs