Future of Wind Power

By

Usama Sagheer Bsme01163103

EVOLUTION OF THE WIND INDUSTRY

• Rising concerns about climate change, the health effects of air

pollution, energy security and energy access, along with volatile
oil prices in recent decades, have led to the need to produce and
use alternative, low-carbon technology options such as
renewables.

• In terms of total installed capacity, wind power is the leading

renewable energy technology after hydropower, with more than
half a terawatt installed globally as of the end of 2018.

• The evolution of the wind industry has been remarkable,

and in the last four decades several milestones have been
achieved in installations, technology advancements and
cost reductions along with the establishment of key wind
energy associations.
Overview
EMERGING MARKET

• The deployment of renewables has accelerated since 2010, reaching record levels and outpacing annual additions of conventional power capacity in
many regions

• At the end of 2018, the global cumulative installed capacity of onshore wind power reached 542 GW (IRENA, 2019d).

• This implies that the total installed capacity of onshore wind would grow more than three-fold by 2030 (to 1 787 GW) and nearly ten-fold by 2050,
nearing 5 044 GW, compared to 542 GW in 2018

• During the initial years of wind power deployment, Europe was the key enabler for global wind installations. In 2010, the region accounted for 47% of
global onshore installations. Since 2010, rapid wind deployment has been observed in other regions, especially China with a CAGR of around 27%. By
2018, China outpaced Europe to become the largest onshore wind market with nearly one-third of the global installed capacity (IRENA, 2019d).

• Asia – mainly China (at more than 2 000 GW) and India (at more than 300 GW) – would continue to lead global onshore wind power installations, with
the region accounting for more than half (2 656 GW) of the total global capacity by 2050
Globel
Cost reduction and capacity factor

Note: The costs in the figure represent the total capital costs of a wind power plant assigned to four main categories: wind turbine cost (rotor blades,
gearbox, generator, power converter, nacelle, tower and transformer), civil works (construction works for site preparation and foundations for tower),
grid connection costs (transformers, substations and connection to the local distribution or transmission network) and planning and project costs
(development cost and fees, licenses, financial closing costs, feasibility and development studies, legal fees, owners’ insurance, debt service reserve
and construction management) (IRENA, 2016a).