Wind power has shown great potential in the last decade. And Asia has been leading the mandate for wind project installations, both onshore and offshore.
The International Renewable Energy Agency (IRENA)’s Future of Wind report makes a number of predictions about wind asset management in the region. According to their analysis, Asia’s traditional, onshore power capacity could jump to 2600 GW in 2050 from a mere 230GW in 2018. And at the midpoint of the century, it could reduce about a fourth of carbon emissions to achieve the Paris Climate Agreement.
In line with these predictions, Asia would then be home to 60% of all offshore wind projects, and 50% of global onshore capacity. A present-day breakdown of these trends does point in similar directions. China, for instance, leads the wind sector with over a third of the world’s capacity, 221 GW. It is home to the largest wind farm on the planet, boasting a capacity of 7965 MWs.
In comparison, the United States has a total installed capacity of 96.4GW. Spain and Germany being close behind.
The Global Potential of Wind Project Installations
Wind project installations, as we see today, may very well be the tip of an iceberg. There’s a lot of potential, and way more plans, instore for this might renewable energy source. By 2050, the global market for wind investments is projected to be ten times what it is today, rounding up to 6000GW.