Source: Global Wind Energy Council (GWEC)

On March 27, 2023, the Global Wind Energy Council (GWEC) released the Global Wind Report 2023 in S ã o Paulo, Brazil. The report predicts that by 2024, the global onshore wind power installed capacity will exceed 100 GW for the first time; By 2025, the global installed capacity of offshore wind power will reach a new high of 25 GW. In the next five years, the global wind power grid connected capacity will reach 680 GW. Policy makers need to take immediate action to avoid supply chain bottlenecks hindering the rapid development of global wind power. Potential supply chain bottlenecks could jeopardize the global achievement of the 2030 climate goal, which is a critical milestone towards achieving net zero emissions by 2050. After a disappointing 2022, the rapidly adjusting policy environment worldwide has laid the foundation for accelerated development in the coming years. It is expected that the average annual wind power installed capacity will reach 136 GW in the next five years, achieving a compound growth rate of 15%.

As analyzed in the 2023 Global Wind Energy Report, there is an urgent need to increase investment in the supply chain globally to meet the rapidly growing demand. The GWEC report shows that there may be supply bottlenecks for wind turbines and components in the United States and Europe by 2025, as the US Inflation Reduction Act and adjustments to European new energy targets will have a positive impact on wind energy development.

The decisions made by policy makers will have a decisive impact on whether the global energy transition can be achieved within the necessary time frame and the cost of the transition. Although further incentivizing supply chain investment, creating regional diversification, and building resilient supply chains are welcome, there is a risk that strict localization requirements or implementing protectionist trade measures will lead to significant cost increases and even seriously delay the development of wind energy and other renewable energy sources.

Ben Backwell, CEO of the Global Wind Energy Council (GWEC), said, "This year's Global Wind Energy Report conveys a clear message to policymakers that now is the perfect time to double your efforts to achieve your ambitious goals and provide support for clean energy. The dawn is right in front of us

New policies to accelerate the development of renewable energy are being introduced around the world, and GWEC expects the global wind power market to continue to grow in the next decade and beyond. But in order to ensure the steady development of the market, policymakers need to take decisive action to repair the market, remove regulatory barriers, allow investment to flow into new factories, and avoid future supply bottlenecks. In addition, we need more proactive global cooperation to strengthen the supply of key raw materials and reduce risks, in order to ensure that the green economy revolution receives the necessary investment during this critical period

Supporting the development of wind energy can not only create employment opportunities, establish new industries, and provide clean and safe energy, but also ensure the achievement of climate goals and net zero emissions, which has long been a global consensus. Policy makers must seize the opportunities before them and cooperate with industries to ensure the realization of energy transition

Francesco La Camera, Director General of the International Renewable Energy Agency (IRENA), said: "Despite the impact of the global energy crisis and geopolitical conflicts on the energy industry, renewable energy remains the best choice for new electricity generation. The latest data from IRENA shows that 2022 is the year with the largest increase in renewable energy installation to date, with global renewable energy generation capacity increasing by 9.6%, accounting for 83% of the world's new electricity generation, which is unprecedented. Wind energy remains one of the fastest-growing sources of power generation, but the latest information from the Intergovernmental Panel on Climate Change (IPCC) suggests that our actions are not fast enough. One of the most realistic options to limit global temperature rise is to significantly increase the use of renewable energy. If we want to limit the global average temperature rise to 1.5 degrees Celsius, renewable energy generation must double by the middle of this century

GWEC Chairman Morten Dyrholm said, "The recent IPCC synthesis report makes it very clear that we now need to scale up renewable energy, but accelerating wind energy development requires healthy industries, and healthy industries require thriving markets

2023 is a crucial year for transforming the outlook into licensing, forward-looking bidding and market design, accelerating infrastructure construction, and providing supply and demand side flexibility solutions. As stated in this report, the road to transformation is not smooth, it requires bold and flexible policy support, and more importantly, strong government support for the wind energy industry. GWEC and the industry are ready to work with policymakers around the world to ensure the rapid development of global wind power