The global offshore wind industry added 8.8 GW of clean energy in 2022, making it the second-best year ever, according to the Global Wind Energy Council (GWEC). China is expected to remain the leading market for offshore wind growth in 2023, although its new installations dropped due to the end of the feed-in tariff. However, GWEC has downgraded its near-term growth forecast for Europe and North America due to delays caused by permitting and regulatory issues. Despite these challenges, GWEC forecasts a massive growth of 380 GW in offshore wind capacity by 2032, with the Asia-Pacific region leading the way. Investment and global cooperation are needed to overcome supply chain bottlenecks and realize the sector's potential.
The wind power industry is expected to experience rapid growth in 2023, with the installation of 680 gigawatts of new onshore and offshore wind by 2027, according to the Global Wind Energy Council. The industry stalled in 2022 due to government policies that encouraged "race to the bottom" pricing, inflation, higher logistics costs, and inefficient permitting and licensing rules. However, incentives and policy changes in key nations are expected to help overcome these factors. The industry will reach a historic milestone of 1 terawatt of wind energy installed worldwide this year, with the 2-terawatt milestone expected to come in 2030.
The wind power industry is expected to experience rapid growth in 2023, with incentives and policy changes in key nations helping to overcome factors that led to a slowdown in 2022. The Global Wind Energy Council projected 680 gigawatts of new onshore and offshore wind will be installed by 2027, enough to power about 657 million homes annually. The industry added about 78 gigawatts of wind capacity globally in 2022, down 17% from 2021, but still the third-best year ever for new capacity. The wind power market stalled in 2022 because of government policies that encouraged “race to the bottom” pricing, and because of inflation, higher logistics costs and inefficient permitting and licensing rules.
