The wind power industry projects growth to rapidly accelerate this year, with incentives and policy changes in key nations helping to overcome factors that led to a slowdown in 2022.
The wind power industry on Monday projected growth to rapidly accelerate this year, with incentives and policy changes in key nations helping to overcome factors that led to a slowdown in 2022.
“The twin challenges of secure energy supplies and climate targets will propel wind power into a new phase of extraordinary growth,” the council said in its report. This year, the industry will reach a historic milestone — 1 terawatt, or 1,000 gigawatts, of wind energy installed worldwide, the council said. The 2-terawatt milestone should come in 2030 if policymakers strengthen supply chains to meet demand and address permitting and other bottlenecks, the council added.
The council pointed to incentives for renewable energy development in the Inflation Reduction Act in the United States, and policies in Europe and China that further expand the role of renewables.and the Philippines are enacting new plans for wind, India seems set to pick up the pace, and Brazil will continue to establish itself as a wind energy powerhouse, the report said.
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