New Global Wind Report Reveals Record Year for Wind Energy but Highlights Need for Policy-Driven Action

The global wind industry had a remarkable year in 2023, installing a record-breaking 117GW of new capacity, representing a 50% increase compared to the previous year. This surge in wind energy is attributed to heightened political ambition, as demonstrated by the adoption of a target to triple renewable energy by 2030 at the historic COP28 conference. The Global Wind Report emphasizes the growing momentum in wind energy worldwide, with 54 countries across all continents contributing to new wind power installations. In response to this positive trend, the Global Wind Energy Council (GWEC) has revised its growth forecast for 2024-2030 upward by 10%, anticipating significant expansion driven by offshore wind, emerging markets, and developing economies. However, despite the industry’s progress, significant efforts are still required to meet the targets set by COP28 and limit global warming to 1.5 degrees Celsius. To achieve this, the wind industry must triple its annual growth from 117GW in 2023 to at least 320GW by 2030. The Global Wind Report provides a roadmap for achieving this goal and highlights the need for collaboration among policymakers, investors, and communities. Key areas for action include investment, supply chains, system infrastructure, and public consensus. The CEO of GWEC, Ben Backwell, emphasizes the importance of global collaboration in creating favorable business environments and efficient supply chains to accelerate wind and renewable energy growth in line with the 1.5-degree pathway. He also calls for policymakers to address challenges such as planning bottlenecks, grid queues, and poorly designed auctions to ramp up project pipelines and delivery effectively. Resources: https://esgnews.com/new-global-wind-report-reveals-record-year-for-wind-energy-but-highlights-need-for-policy-driven-action/