Around 680GW wind energy capacity to be installed by 2027: report

Policy changes are needed to prevent supply bottlenecks by 2026.

The onshore and offshore wind markets are expected to hit record installations by 2025 and reach 680 gigawatts (GW) of new installations by 2027, according to the Global Wind Energy Council (GWEC).

However, there is a need for policymakers to ramp up investment in the supply chain globally to avoid a bottleneck which could delay the deployment of wind energy from 2026.

A fast-evolving policy environment would drive the industry to install 136 GW annually, reaching an annual compound growth of 15%.

READ MORE: China dominates global wind turbine orders in 2022

“New policies focused on accelerating the deployment of secure, renewable energy are being introduced across the world, and GWEC expects a sustained surge in growth over the coming decade and beyond. But in order to ensure implementation policymakers need to act decisively to fix market and regulatory barriers to allow investment to flow into new factories to avoid future bottlenecks,” said GWEC CEO Ben Backwell. 

“In addition, we need much more active global collaboration to enhance and de-risk the supply of critical raw materials in order to ensure that the green economic revolution had the inputs it needs in this crucial period,” he added.

The US and Europe are expected to experience supply bottlenecks for turbines and components starting 2025 amidst the positive impact of the US Inflation Reduction Act, increased Europe ambition, and rapid development in China.

The council noted that the policies to be carried out by the lawmakers will have a decisive impact on the energy transition within the necessary timeframe and its cost.

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