In 2014, the global wind industry has set a new record on annual installations, according to the global wind market statistics release from Global Wind Energy Council (GWEC).
Figures reveal that the wind energy sector added a record 51,477MW globally in 2014.
This record-setting figure shows a 44 percent increase in the annual market, a solid sign of the recovery of the industry after a rough patch in the past few years.
Total cumulative installations stands at 369,553 MW at the end of 2014.
“Wind power is the most competitive way of adding new power generation capacity to the grid in a rapidly increasing number of markets around the world, even when competing against heavily subsidized incumbents,” said Steve Sawyer, secretary general, GWEC.
Wind is a rapidly maturing technology, with proven reliability and competitiveness. Not only the low prices but also the cost-stability of wind power makes it a very attractive option for utilities, independent power producers and companies who are looking for a hedge against the wildly fluctuating prices of fossil fuels, pointed out Sawyer.
However, China leads the global growth drive with a new record in 2014 and 23,351 GW of new wind power installation.
China’s growth represents 45 percent of the global market, governing the total installations of 26,161 MW in Asian market.
India has achieved 2,315 MW standing in second place after China. The country is expecting a market boom in wind segment in coming years.
The European market got lifted up through 2014 with 12,820 MW of new capacity.
In Germany, the 5,279 MW of new capacity created a new record, strengthening the country’s position as European market leader, with the UK a distant second at 1,736.
Sweden passed the 1,000 MW mark for the first time with 1,050 MW.
France was the last of four European markets surpassing 1 GW with 1,042 MW installed last year.
The South African market has made a robust start in 2014 with 560 MW, making African totals to 934 MW.
Brazil’s 2,472 MW in new installations led Latin American installations of 3,749 MW, although Chile (506 MW) and Uruguay (405 MW) also made better development.
The US market recovered in 2014 from 2013’s base with 4,854 MW, Canada (1,871 MW) set a new record and Mexico (522 MW) was solid.
Moreover, Australia’s 567 MW showed that the renewables industry is still live in the country, despite the non-cooperation from government’s part.