Wind’s Global Boom Is Rising Again

The Next Phase of Wind Power Growth...

June 28, 2022 (BloombergNEF)

“…The wind industry’s 2022] growth is set to be supercharged as countries look to bolster their energy security and meet more ambitious climate goals…Corporations are also getting in on the action as they seek to adapt to the energy transition and decarbonize their operations. Oil majors such as BP and Shell are expanding their footprints in offshore wind, automaker General Motors has invested in a floating wind startup, and tech giants like Microsoft are devising innovations to make wind turbines more efficient…

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…Despite the global supply chain being rocked by inflated logistics, commodities and labor costs, BNEF anticipates a record 106 gigawatts of wind power will be installed across the world in 2022…[and] more than 100 gigawatts of wind capacity is expected to be added each year for the rest of the decade…[T]he upgraded forecast reflects the European Union’s push to accelerate wind deployments to reduce dependence on Russian gas…Onshore wind is set to dominate the global picture with China driving growth…Following a record year in 2021, offshore wind installations are anticipated to dip this year to 13.4 gigawatts…[but] BNEF forecasts cumulative offshore wind capacity will surge 10-fold between 2021 and 2035, to 504 gigawatts…

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…Turbine makers are looking to capitalize on the offshore wind boom, hunting for a foothold in new markets and pushing technology boundaries with ever larger and more powerful machines…[and the] last few months have been a hive of activity for seabed leasing…However, floating wind is set for a growth spurt from 2027, driven by demand from areas where the sea is too deep for bottom-fixed installations…Floating wind capacity is forecast to reach over 25 gigawatts by the middle of the next decade, from just under 60 megawatts today. The UK is projected to be the market leader…” click here for more

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