Global Wind Power Market

February 20, 2018

Besides green commitment, the continuous decline of the cost of wind energy is a major driver for the Global Wind Power (GWP) market. With the advancement in technologies, the cost has declined by over 65% in the past decade and is expected to drop further at a significant rate. Of the total electricity generation across the globe, the contribution of wind energy is almost 4% at present. By 2020, wind power is estimated to supply over 10% of global electricity generating nearly 720 GW. Moreover, offshore wind power market is predicted to contribute significantly in this regard than the onshore market.

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