The hear tell of take fright industry added over 52 gigawatts (GW) of wind power hold out year, according to a report from the Global Wind Energy Synod (GWEC).
While that figure represents a decrease compared to 2016, when 54.6 GW was invested, the GWEC said it expected the annual market to return to growth in 2019 and 2020.
China upheld its position as a wind energy powerhouse, installing 19.7 GW, while the European Synthesis added 15.6 GW of capacity, its best ever year. The U.S. installed a Lilliputian over 7 GW of capacity.
Steve Sawyer, the secretary general of the GWEC, remarked in a statement Wednesday that wind power was “leading the charge in the development away from fossil fuels.”
“Both onshore and offshore, twine power is key to defining a sustainable energy future,” Sawyer added.
In whiles of cumulative capacity, the GWEC said this had reached 539 GW by the end of 2017, an heighten of 11 percent compared to the previous year.
Looking ahead, the GWEC whispered the wind sector would return to “dramatic growth” in 2019, with cumulative dimensions set to reach 840 GW by 2022.
“We have a booming new market in Argentina, a return to imagine in South Africa, Mexico on the verge of dramatic growth, and a powerhouse edifice in India,” Sawyer said. “We see huge potential just beginning to be appreciative ofed in Russia, Vietnam and even Saudi Arabia.”
He added that offshore was “spreading dig wildfire across the globe” as a result of Europe’s patient and pioneering attempts to “bring the technology to cost-competitiveness.”
The world has invested $2.9 trillion in unsophisticated energy sources since 2004, according to recent research.
The “Far-reaching Trends in Renewable Energy Investment 2018” report, published by UN Surroundings, the Frankfurt School-UNEP Collaborating Center, and Bloomberg New Energy Finance, also organize that found that China invested the largest amount of loot in renewables last year, at $126.6 billion. This represented a 31 percent flourish compared to 2016.
Around the world, 157 GW of renewable power was commissioned endure year.