2020 was a record year for renewable energy, but installed capacity needs to move three-times faster over the next decade in order to meet net-zero targets, according to the latest report from the Global Wind Energy Council (GWEC).
wind farm
Renewable energy operated a larger market share of energy consumption than at any other point in history, and it has been considered a glimpse into the future, as the pandemic allowed for energy consumption habits not expected until at least halfway through the decade.
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The report shows a record 93 GW of new wind capacity was installed in 2020, seeing a 53% year-on-year increase from 2019 and showing resilience in the face of the coronavirus pandemic.
Global wind power now operates at a capacity of 743 GW, helping the world avoid 1.1 billion tonnes of CO2 emissions per year - equivalent to the combined carbon emissions for South America.
The report suggests that as much as 180 GW of new wind energy must be installed each year by the end of the decade in order to meet the net-zero goals set out by the Paris Climate Accord and to avoid the worst impacts of climate change. The authors urge governments of the world to take drastic action to avoid delays and 'red tape' which may hinder efforts to expand existing renewables infrastructure.
The report also considered wind power as one of the cornerstones for a green future.
“People and governments around the world are realising that we have a limited window to head off dangerous climate change," said GWEC CEO Ben Backwell.
"While many major economies have announced long-term net-zero targets, we need to make sure that urgent and meaningful actions are taken now to make sure this ambition is matched with fast-growing investment and installations of renewable power on the ground and in the water," he added.
An infographic showing total global wind capacity. Credit: GWEC
Through technology innovations and economies of scale, the global wind power market has nearly quadrupled in size over the past decade and established itself as one of the most cost-competitive and resilient power sources across the world.
China and the US led the charge in 2020 - who currently encapsulate the largest wind markets in the world - who installed 75% of the capacity for 2020 and operate half of the world's wind energy.
However, without the measures suggested in the report, the world may not be able to meet the minimum requirements of reducing the global temperature by under 2°C by the mid-century.
The report suggests as much as 280 GW of new capacity must be installed per year in order to meet the stricter requirements laid out by the PCA.
Backwell added: "It is really encouraging to see record growth in China and US last year, but now we need the rest of the world to step up to get us where we need to be.”
“Our current market forecasts show that 469 GW of new wind power capacity will be installed over the next five years. But we need to be installing at least 180 GW of new capacity every year through 2025 to ensure we remain on the right path to limit global warming well below 2°C – meaning we are currently on track to be 86 GW short on average each year.
"And these installation levels will need to scale up to 280 GW beyond 2030 to deliver carbon neutrality by mid-century. Every year we fall short, the mountain to climb in the years ahead gets higher.”
Feng Zhao, the head of Market Intelligence and Strategy at GWEC said the wind industry must work together with governments and communities to find solutions to accelerate the energy transition.
He added working alongside other sectors such as solar, storage and gas will be "necessary" to achieve these goals, stating that wind power is vital in global decarbonisation efforts.
“In every major institutional scenario for energy system transformation analysed in this report, the wind market must rapidly expand over the next decade," he added.
"The wind industry must be clear that this growth will not happen spontaneously, and urgent policy interventions are required worldwide. Throughout the COVID-19 crisis, we saw how governments can quickly react to address a global crisis – this same urgency must now be applied to the climate crisis.”
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The Asia Pacific region and Europe are projected to be the largest contributors to wind energy by 2025. This is likely due to the EU's efforts to decarbonise its industrial and energy sectors.
However, current estimates suggest every major region will underdeliver on the required wind commitments for net-zero.
GWEC represents 1,500 energy companies in more than 80 countries, which has allowed them to aggregate this data.
Significant innovations will be required in order to increase efficiency in the wind sector, such as larger turbines or increase in electrolysis technology.
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