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Wind Power Market to Quadruple by 2030 Finds Siemens

The world’s number 3 maker of wind turbines expects the global wind power market to more than quadruple by 2030.

 

At a renewable energy conference in Berlin, chief executive of Siemen’s wind power division Markus Tackle said, “The market will shift away from Europe significantly,” and instead see a strong growth in Asia.

 

He predicts that globally, wind power capacity would increase to 1,107 gigawatts in 2030 from the 273 GW in 2012. The company also predicts that Asia and the Pacific region would account for more than 47 percent of the total, which would be up 34 percent from today.

 

“China is pumping billions of euros into wind power, which is more cost-competitive than solar energy and partly able to compete with coal and gas. Wind power subsidies in most parts of Europe are being slowly scaled back.”

 

Read more about the report at Navigant Research.

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