Latest policy on wind power generation

About Latest policy on wind power generation

Onshore wind is a proven, mature technology with an extensive global supply chain and offshore wind is also expected to grow rapidly.

In 2022 wind electricity generation increased by a record 265 TWh (up 14%), reaching more than 2 100 TWh. This was the second highest growth among all renewable power.

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6 FAQs about [Latest policy on wind power generation]

What policy changes are affecting the growth of wind energy?

Various types of policy are driving capacity growth, including auctions, feed-in tariffs, contracts for difference and renewable energy portfolio standards. The following important policy changes and targets affecting the growth of wind energy have been implemented in the past couple of years:

How much wind power does the US need?

The United States today has just over 145 gigawatts (GW) of installed wind energy capacity from about 73,000 turbines across 43 states. Domestically, achieving a net-zero-carbon electric sector could require around 2,000 GW of installed wind and solar power capacity.

How will new policies affect wind power investment?

New policies and targets proposed in the REPowerEU Plan and The Green Deal Industrial Plan are expected to be important drivers of wind power investment. The United States included generous new funding for wind power in the Inflation Reduction Act (IRA) introduced in 2022.

Will wind power increase in the future?

Therefore, the outlook is for increasing participation on wind power in the future, up to at least 18% of global power by 2050 according to the International Energy Agency (IEA, 2013).

How does policy support drive wind capacity growth?

Policy support remains the principal driver of wind deployment in the majority of the world. Various types of policy are driving capacity growth, including auctions, feed-in tariffs, contracts for difference and renewable energy portfolio standards.

Is wind power becoming a subsidized technology?

Furthermore, according to the Global Wind Energy Council, “Beyond the statistics, wind power is becoming a fully commercialized, unsubsidized technology; successfully competing in the marketplace against heavily subsidized fossil and nuclear incumbents” (GWEC, 2018).