How big will the wind power capacity be in 2025?

By 2025, over 180 GW of global wind capacity will be in operation. Wind and solar energy capacities are expected to grow by 1123 GW in total from 2020 to 2025, at a 95% increase per year. In 2023, wind and PV combined are expected to exceed the capacity of natural gas, and in 2024 – the capacity of coal.

What is the global wind power market size?

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.

How did wind power grow in 2022?

In 2022 wind electricity generation increased by a record 265 TWh (up 14%), reaching more than 2 100 TWh. This was the second highest growth among all renewable power technologies, behind solar PV.

What is the largest source of electricity generation in 2025?

In 2025, renewables surpass coal to become the largest source of electricity generation. Wind and solar PV each surpass nuclear electricity generation in 2025 and 2026 respectively. In 2028, renewable energy sources account for over 42% of global electricity generation, with the share of wind and solar PV doubling to 25%.

How much will wind power increase in 2050?

For onshore wind plants, global weighted average capacity factors would increase from 34% in 2018 to a range of 30% to 55% in 2030 and 32% to 58% in 2050. For offshore wind farms, even higher progress would be achieved, with capacity factors in the range of 36% to 58% in 2030 and 43% to 60% in 2050, compared to an average of 43% in 2018.

Will wind power increase in 2021?

In 2021, 9.2% of total U.S. power generation was from wind energy. The demand for wind power is expected to increase during the forecast period owing to the increasing viability of onshore and offshore wind farms and boosting growth.