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Wind Power

Wednesday
23 Oct 2019

Asia is Set to Become World Leader in Wind Energy Market by 2050

23 Oct 2019  by CNA/Matthew Mohan   
Wind turbines and solar panels are seen at a wind and solar power plant by State Power Investment Corporation (SPIC) in Zhangjiakou, Hebei province, China, Oct 29, 2018. (Photo: Reuters)
 
Asia is set to become the world leader in the wind energy over the next few decades and "dominate" both the onshore and offshore wind power industries, said a report by the International Renewable Energy Agency (IRENA) on Monday (Oct 21).

According to the report Future of Wind, Asia will by 2050 account for more than half of all onshore and more than 60 per cent of all offshore wind power installations globally.

In an accompanying press release, IRENA noted that much of this is down to China, which will have 2525 gigawatts (GW) of installed onshore and offshore wind capacity by 2050, followed by India (443 GW), Republic of Korea (78 GW) and Southeast Asia (16 GW).

AN "EFFECTIVE AND IMMEDIATE" SOLUTION

"By mid-century, wind could cover one-third of global power needs and – combined with electrification – deliver a quarter of the energy-related carbon emission reductions needed to meet the Paris climate targets," added the press release.

But to reach this objective, onshore and offshore wind capacity will need to increase four-fold and ten-fold respectively every year compared to today, it noted.

Along with solar energy, wind energy will lead the way for the "transformation" of the global energy sector, said the report.

This would see onshore and offshore wind generate more than one-third of total electricity needs, becoming the "prominent" generation source by 2050.

Low-cost renewable energy technologies such as wind power represent the most "effective and immediate" solution for reducing carbon emissions, said IRENA’s director-general Francesco La Camera.

“With renewables, it’s possible to achieve a climate-safe future,” he added.

"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.”

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