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Global Wind Report 2022 : Highlights

Global Wind Report 2022:

The Global Wind Report for 2022 was published by the Global Wind Energy Council (GWEC).

  • GWEC was established in 2005 to provide a credible and representative forum for the entire wind energy sector at an international level.

Highlights of the Report:

  • Wind energy installations every year across the world must quadruple from the 94 GW (Gigawatt) installed in 2021 within this decade to meet the global climate targets.
  • Without the necessary amplification, restricting global warming over pre-industrial levels to 1.5 degrees Celsius — a target set by the Paris Agreement — and achieving Net Zero emissions by 2050 may become difficult.
  • New installations of 93.6 GW in 2021 brought global cumulative wind energy capacity to 837 GW, a Year-on-Year (YoY) growth of 12%.
  • The onshore wind market added 72.5 GW worldwide.
  • That is 18% lower than the previous year due to a slowdown in China and the US, the world’s two largest wind markets.
  • The offshore wind market enjoyed its best ever year in 2021, with 21.1GW commissioned.
  • New offshore installations in 2022 are likely to decline to the 2019 / 2020 levels.
  • Decline will be primarily due to the reduction of installations in China.
  • However, market growth is expected to regain momentum from 2023, eventually passing the 30GW-mark in 2026.
  • Offshore wind energy generation increases return on investment, along with reducing greenhouse gas emissions.
  • Carbon dioxide emissions can reduce by 0.3-1.61 gigatonnes every year by 2050 if offshore wind energy generation is scaled up.