Wind to account for a fifth of global electricity in 2030

In as little as 15 years, wind power will be accounting for a bit less than a fifth of global electricity generation. This is a staggering finding from the Global Wind Energy Council’s latest report.

Here is the press release of the report :

Wind capacity could increase nearly seven-fold by 2030, reaching a total of more than 2,000 gigawatts and meeting almost 20 percent of electricity demand, according to a new report.

Released on Wednesday, the Global Wind Energy Outlook 2014 says that while wind power is already in 90 countries — with a total installed capacity of 318 gigawatts at the end of 2013 — growth has been flat for the last several years at about 40 gigawatts per year due to the economic crisis, low growth in wealthy countries, and policy instability.

The report, put out by Greenpeace and the Global Wind Energy Council (GWEC), a trade organization, found that going forward this could change and per-year installations could rise to as much as 90 gigawatts.There are a number of encouraging signs. The Chinese wind market posted strong growth last year and has great potential.

The U.S. market is recovering and appears back on track for the short term at least. India, in desperate need of more electricity, is starting to look to wind. According to the report, the most exciting areas of new growth are in Brazil, Mexico, and South Africa.

Brazil is set to install nearly 4 gigawatts in 2014 alone; energy reform in Mexico has set that country on course for a 2-gigawatt-per-year market for the next decade; and South Africa is putting up solid numbers, which could be the beginning for major wind development across the African continent.

“Wind power has become the least-cost option when adding new capacity to the grid in an increasing number of markets, and prices continue to fall,” Steve Sawyer, CEO at GWEC, said in a statement. “Given the urgency to cut down CO2 emissions and continued reliance on imported fossil fuels, wind power’s pivotal role in the world’s future energy supply is assured.”

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On the last part of the press release, it is indeed occuring. Here are some news from Europe, Portugal more precisely :

“It is clear more and more that our product [wind energy] is good,” João Manso Neto, head of renewables for Portugal’s EDP, told analysts in London. “Not only because it’s green…but because it’s more competitive, it’s cheaper.”

EDP calculated that wind was one-third cheaper than coal and 20 percent cheaper than gas. This is remarkable, especially because these figures come from an energy giant that profits from coal, gas, hydro and renewables. In other words, EDP has no incentive to exaggerate the benefit of renewable energy.