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Global Energy Advisory - June 15th 2018

Global Energy Advisory - June 15th 2018

Oil markets are on edge…

Global Wind Power Hits 282.5GW

The latest edition of the annual market report released by the Global Wind Energy Council (GWEC) claims that global installed capacity for wind power is now at 282.5GW.

A total of 44.8GW of new wind capacity was installed around the world in 2012, a 10% increase over installed capacity in 2011.

The US was the largest contributor to new wind energy installations, adding a record capacity and finally regaining its position from China for the first time since conceding that spot in 2009. Although the GWEC has warned that the last minute extension of the US production tax credit will probably mean that the number of installations will fall this year before recovering again in 2014.

Related article: Has Belgium Cracked the Problem of Storing Wind Power Electricity?

Europe has also installed a large amount of wind energy capacity throughout the year, however the economic crisis has caused many budgets to be slashed and government policies supporting renewable energy investment have been reigned in, meaning that less capcity is likely to be installed over the next few years.

China also remained one of the largest wind energy installers now with over 75GW of capacity. The wind sector is expected to grow significantly in other Asian countries such as India, Pakistan, Mongolia, the Philippines, and Thailand, during the next couple of years.

By. Joao Peixe of Oilprice.com

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