Study Projects 592 GW of New Wind Generation Through 2024
Global wind power installations will reach 592 gigawatts (592 billion watts) between 2015 and 2024, business advisory firm FTI Consulting Inc. projected late last month.
FTI’s estimate of 264 GW for 2015-2019 represents a 5.6% increase for the five-year period, driven largely by growth in North America and the Asia-Pacific.
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“In 2015, the global wind market will reach a new record of activity, driven by the extraordinary strength of China’s market,” said Feng Zhao, a director in FTI’s energy practice. “However, we can still expect some volatility over the next five years, before annual installations build to the next peak around 2021.”
FTI “estimates that hitting 592 GW will be achieved at a compound annual growth rate of 3.3%,” SeeNews reports. “In 2015 alone, the world is seen to install 59 GW of wind power capacity, meaning that this would be a second consecutive record year.”