330 GW of wind energy will be installed from 2019 to 2023

GWEC Market Intelligence releases the updated market outlook concluding that an additional 330GW of wind energy capacity will be installed from 2019 to 2023, an increase of 9GW from its market outlook published in Q1 2019. Main markets driving this volume increase are the US and Chinese onshore markets, which will both experience an installation boom over the next two years with 6.5GW and 10GW added capacity respectively from the Q1 2019 market outlook. The growing role of offshore wind power in the global energy transition is a major reason for boosting overall growth, and will make up approximately 18% of total wind energy capacity by 2023, up from 9% in 2018. The continued growth of wind energy globally will be driven by the increasing cost competiveness of wind energy as well as market-based mechanisms such as auctions, tenders, and bilateral Power Purchase Agreements (PPAs). According to the updated market outlook released today by GWEC Market Intelligence, an additional 330GW of new wind energy capacity will be added to the global energy market from 2019 to 2023, bringing total capacity to over 900GW.