European wind market is expected to grow at a rate of over 9 GW annually through 2010, which translates into annual investments pushing of €11 billion.
Europe remains the leading market for wind energy and new installations represented 43% of the global total. European companies supplied 66% of the world’s turbines in 2007.
According to EWEA’s reference scenario, the EU-27 could see 80 GW of installed capacity in 2010; 180 GW by 2020; and 300 GW by 2030.
The Global Wind Energy Council (GWEC) predicts the global market for wind turbines will grow by over 155% from 94 GW in 2007 to reach 240 GW of total installed capacity by 2012.
Depending on the increase in electricity demand, wind power could cover 11.5 to 12.7% of global electricity demand in 2020, according to GWEC, and as much as 20.2 to 24.9% in 2030.
EU objective for 2020:
The EU has set a binding target of 20% of its energy supply to come from wind and other renewable resources by 2020.
To meet this target, more than one-third of European electricity demand will need to come from renewables.
Wind power is expected to deliver 12 to 14% of the total EU electricity demand in 2020.
The EU needs to increase by an average of 9.5 GW per year between 2008 and 2020 to supply 12-14% of EUs electricity. In 2007, wind energy capacity in the EU increased by 8.5 GW.
Wind industry target for the EU-27 in 2020:
180 GW installed capacity, including 35 GW offshore.
Annual installations of 16.8 GW, including 6.8 GW offshore.
Electricity production of 477 TWh, including 133 TWh offshore.
Meeting between 11.6% and 14.3% of total EU electrical demand.
Providing power equivalent to the needs of 107 million average EU households.
Benefits of reaching the wind industry’s target in the EU-27 in 2020:
Avoiding 328 Mt of CO2, equivalent to taking 165 million cars off the road (76% of the EU 2004 car fleet).
Annual avoided fuel cost of €20.5 billion (assuming fuel prices equivalent to $ 90 a barrel of oil).
Annual avoided CO2 costs of €8.2 billion ((€25/t CO2).
Annual investments in wind power capacity of €16.9 billion.
Total life-time avoided fuel costs of wind power capacity installed in 2011-2020 of €277 billion.
Total life-time avoided CO2 cost of wind power capacity installed in 2011-2020 of €114 billion
Investments:
Cumulative investments in wind energy over the three decades from 2000 to 2030 will total €390 billion. According to EWEA’s reference scenario, approximately €340 billion will be
invested in wind energy in the EU-27 between 2008 and 2030.
