Asia is set to dominate both the onshore and offshore wind power markets in the next few decades, according to a report from the International Renewable Energy Agency (IRENA).
The report predicts that Asia could have over 2,600GW of installed onshore wind capacity by 2050, an increase from 230GW in 2018.
By 2050, the region would account for more than 50% of onshore and over 60% of all offshore wind capacity installed globally.
As per the IRENA report, Asia would be followed by North America (23%) and Europe (10%) for onshore wind. In the offshore sector, Asia would be followed by Europe (22%) and North America (16%).
China poised to become the top wind power producer within Asia
Within Asia, China will be the top wind power producer with 2,525GW of installed capacity by 2050, followed by India (443GW), the Republic of Korea (78GW) and Southeast Asia (16GW).
IRENA director-general Francesco La Camera said: “With renewables, it’s possible to achieve a climate-safe future. Low-cost renewable energy technologies like wind power are readily-available today, representing the most effective and immediate solution for reducing carbon emissions.
“Our roadmap for a global energy transformation to 2050 shows that it is technically and economically feasible to ensure a climate-safe, sustainable energy future. Unlocking global wind energy potential will be particularly important. In fact, wind energy could be the largest single source of power generation by mid-century under this path.
“This would not only enable us to meet climate goals, but it would also boost economic growth and create jobs, thereby accelerating sustainable development.”
The global wind power is estimated to rise ten-fold reaching over 6,000GW by 2050, according to the “Future of Wind” published at China Wind Power.
IRENA’s report also finds that the global wind industry could employ over 3.7 million people by 2030 and more than 6 million people by 2050.
According to the report, annually, the average global investment in the onshore wind must increase from current $67bn to $211bn in 2050 as well as from current $19bn to $100bn in 2050 for offshore wind.
