(April 15, 2014) Asia is now leagues ahead of other regions within the global wind market. Furthermore, this market is expected to grow at an annual cumulative capacity rate of more than 10 percent over the coming five years. A recent Global Wind Energy Council (GWEC) report shows other significant wind energy markets of the past few years have slowed in comparison. However, overall global growth of wind energy will remain firm with a hopeful measure of expanding growth again.
The wind market for 2013 was an “off” year. Less wind energy capacity was installed in 2013 than in 2012. This disappointment saw the biggest drop in the market’s relatively short life. From 1996 through 2013, annual installed capacity for wind grew at an average rate of more than 20 percent.
Of course, 2013 was still the 5th-best year on record for new wind power capacity, and if you take out the US for all those years (given its exceptionally poor performance in 2013), things look even better.
If you look at the cumulative capacity chart (above), you can hardly notice any dip in growth.