Global Wind Report 2022.


Global Wind Report 2022.

What is in the News ?

  • Recently, the Global Wind Report for 2022 was published by the Global Wind Energy Council (GWEC).
  • GWEC was established in 2005 to provide a credible and representative forum for the entire wind energy sector at an international level.

What is in the Report ?

  • Increase in Wind Energy Capacity Installation :
  • Wind energy installations every year across the world must quadruple from the 94 GW (Gigawatt) installed in 2021 within this decade to meet the global climate targets.
  • Without this, achievement of Paris Targets would become difficult.
  • Capacity Installation in 2021 :
  • New installations of 93.6 GW in 2021 brought global cumulative wind energy capacity to 837 GW, a Year-on-Year (YoY) growth of 12%.
  • The onshore wind market added 72.5 GW worldwide. That is 18% lower than the previous year due to a slowdown in China and the US, the world’s two largest wind markets.
  • The offshore wind market enjoyed its best ever year in 2021, with 21.1GW commissioned.
  • Offshore Installations Likely to Decline :
  • New offshore installations in 2022 are likely to decline to the 2019 / 2020 levels due to reductions of installations in China.
  • However, market growth is expected to regain momentum from 2023, eventually passing the 30GW-mark in 2026.
  • Offshore Wind Energy – Return on Investment :
  • Offshore wind energy generation increases return on investment, along with reducing greenhouse gas emissions.
  • Carbon dioxide emissions can reduce by 0.3-1.61 gigatonnes every year by 2050 if offshore wind energy generation is scaled up.

Wind Energy in India

  • In India, more than 1.4 GW of wind was installed in 2021, exceeding the 1.1 GW of installations during the previous year.
  • The Government has set a target of installing 5 GW of offshore capacity by 2022 and 30 GW by 2030. As of now, India does not have an offshore wind energy facility.
  • India can generate 127 GW of offshore wind energy with its 7,600 km of coastline.
  • The Indian wind market outlook for 2022 and 2023 is projected at 3.2 GW and 4.1 GW of onshore wind installations, respectively.

Challenges to Growth of Wind Energy

  • Badly designed markets which do not enable bankable renewable energy projects.
  • Inconsistent policy environments focused on short-term political aims.
  • Infrastructure and transmission bottlenecks.
  • A lack of adequate industrial and trade policies related to renewable technologies.

Steps Taken by Government of India

  • National Wind-Solar Hybrid Policy: The main objective of the National Wind-Solar Hybrid Policy, 2018 is to provide a framework for promotion of large grid connected wind-solar PV hybrid systems for optimal and efficient utilization of wind and solar resources, transmission infrastructure and land.
  • National Offshore Wind Energy Policy: The National Offshore wind energy policy was notified in October 2015 with an objective to develop the offshore wind energy in the Indian Exclusive Economic Zone (EEZ) along the Indian coastline of 7600 km.