The IEA forecasts that global electricity demand is expected to rise by 3% per year over the 2023-2025 period, compared with the 2022 growth rate. More than 70% of this is expected to come from China, Southeast Asia
The forecast sees the rate of global wind capacity expansion doubling between 2024 and 2030 compared with 2017-23. Hydropower capacity growth remains stable, driven by China, India, the ASEAN region and Africa.
The UK wind energy market is expected to register a compound annual growth rate (CAGR) of more than 6% during the forecast period 2022-2027. As of 2023, the UK has approximately 28GW total installed wind
In our latest Short-Term Energy Outlook, we forecast that wind and solar energy will lead growth in U.S. power generation for the next two years.As a result of new solar projects coming on line this year, we forecast
Looking Ahead: Bright Future of Wind Power. GWEC projects a bullish future for wind power, with an expected average annual growth rate exceeding 9% over the next five years. By 2028, the global wind power
GWEC projects a bullish future for wind power, with an expected average annual growth rate exceeding 9% over the next five years. By 2028, the global wind power capacity is poised to surge by an additional 791 GW, averaging 158 GW per year. The anticipated growth in 2024 alone is projected at 130 GW.
The global wind power market size was valued at USD 99.28 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 6.5% from 2022 to 2030. The growing need to replace conventional sources of energy with renewable sources is projected to drive the market for wind power in the upcoming years.
The amount of electricity generated by wind increased by 265 TWh in 2022 (up 14%), the second largest growth of all power generation technologies. Wind remains the leading non-hydro renewable technology, generating over 2 100 TWh in 2022, more than all the others combined.
The forecast sees the rate of global wind capacity expansion doubling between 2024 and 2030 compared with 2017-23. Hydropower capacity growth remains stable, driven by China, India, the ASEAN region and Africa.
The share of solar PV and wind in global electricity generation is forecast to double to 25% in 2028 in our main case. This rapid expansion in the next five years will have implications for power systems worldwide.
Global installed capacity soared by 50%, with a record-setting 117 GW added, elevating the total installed capacity beyond the 1 TW threshold — an impressive 13% increase from the previous year. Onshore Wind The onshore wind sector experienced its most successful year to date, with installations topping 106 GW—a 54% increase over the prior year.
