In the whirlwind of climate change concerns and renewable energy aspirations, the Global Wind Report for 2023 has blown in with some exciting news. So, grab your virtual anemometer and join us as we dissect the key points from this report, revealing a world on the brink of a renewable energy revolution.



1. The Winds of Change

Picture this: a world where wind energy reaches a colossal 1 terawatt (TW) of installed capacity. Yes, you read that right! 2023 is expected to be the year when we hit this monumental milestone, and it's not stopping there. Experts predict that we'll reach the next TW in less than a decade. What's propelling this whirlwind of progress? Ambitious energy and climate policies that are sweeping across the globe.

2. Bumps in the Wind

Now, it's not all smooth sailing in the wind energy world. Recent years have thrown a few gusts our way, including financial losses and project delays. But, despite these headwinds, we managed to install a whopping 77.6 gigawatts (GW) of wind capacity in 2022. The only place where wind wasn't losing its steam was Europe, where they saw a remarkable 18.2% year-on-year growth in onshore wind installations.

"Many of the manufacturers at the heart of the industry have seen mounting financial losses caused by 'race to the bottom' pricing, as a result of misguided government policies around procurement and offtake arrangements, exacerbated by higher inflation and logistics costs," says GWEC CEO, Ben Backwell.


3. The Offshore Odyssey

Offshore wind had a bit of a choppy ride, with a 58% decrease compared to 2021. What caused this turbulence? Well, it seems that China's policy-driven installation rush had a lot to do with it, as it finally came to a halt.

4. Supply Chain Support

One thing's for sure, to keep this wind in our sails, we need to invest in the wind energy supply chain. It's the backbone of this industry, and without a strong supply chain, we won't be able to achieve our ambitious goal of having 2 TW of wind energy installed by 2030.

5. Winds of Change in Politics

Get ready for a geopolitical shift. Political conditions around the world are becoming increasingly favorable for wind energy. Countries like Brazil, India, the US, the EU, and many others are unfurling policies and regulations to hasten the deployment of wind energy.

6. The Future Forecast

So, what's the forecast for wind energy's future? According to GWEC (Global Wind Energy Council), we can expect onshore wind installations to surge past the 100 GW mark annually by 2024. Offshore wind, on the other hand, is set to sail past 25 GW in a single year for the first time in 2025. It's a bright and breezy future for wind energy!


In conclusion

The Global Wind Report for 2023 paints a vivid picture of the wind energy landscape. Despite a few bumps along the way, the potential for growth is immense. Thanks to supportive policies, rising targets, and the industry's increasing cost competitiveness, it's clear that wind energy is poised to play a vital role in our transition to a cleaner, greener world.

So, keep your eyes on the horizon, because the winds of change are picking up speed, and we're all aboard for this incredible renewable energy journey!

Connect wind Benjamin Troskie on LinkedIn


Download the original 120 page report here:

SOURCE: GWEC. (2023). Global Wind Report 2023 (Pages 1, 4, 14, 85).