- Published: 05 April 2019 05 April 2019
The Global Wind Energy Council has published the 14th edition of the Global Wind Report. Data in the report confirms that 2018 was a positive year for the wind industry, with 51.3 GW of new installations. Market-based mechanisms, such as auctions, tenders and Green Certificates were the main drivers behind new installations in 2018.
GWEC expects strong growth in the coming period, with around 300 GW of new capacity to be added in the next five years. Market-based mechanisms like auctions, tenders and Green Certificates were the main drivers of new onshore installations, accounting for 35% of total installations. 2018 was also a pivotal year for the offshore industry, particularly in Asia. If governments remain committed, offshore wind will become a truly global market in the next five years. The report identifies three global trends as the main drivers of future market growth, aside from regulation and government targets: changing business models of industry participants, unlocking further volume through corporate procurement outside of mature markets and how value-focused solutions, such as hybrid generation plants, are unlocking more opportunities for the wind industry.