The wind industry is experiencing and will continue to experience double-digit growth.
JR Group long term strategy has seen investments in renewable technologies, especially in wind turbine components and designs, energy storage and solar. One area of focus is a utility size, vertical wind turbine where development and testing is ongoing, as part of our long-term strategy (R360 Wind) taking us well into the early 2020’s.By 2030, Renewables will be the world’s primary power source. “Driven by continued policy support, renewables account for half of additional global generation, overtaking coal around 2030 to become the largest power source.” 2016 – International Energy Agency.
The production of electricity will almost double over the next 2 decades, but the reign of oil is ending; it will be replaced by electricity delivered from renewable sources.
In our opinion, over the long term, the energy source that offers the lowest cost of production with the least environmental damage will replace oil; that source is wind.
The International Energy Agency (IEA) estimates that total onshore wind capacity will reach 546 GW by 2020 and 923 GW by 2035. Offshore wind capacity will add 175 GW to this, and the wind industry’s share of global energy generation will increase significantly up to 2035.
By then it is expected that wind energy will account for approx. 7.3% of total power generation, up from 1.6% in 2011.
On a longer horizon, IEA has updated the 2050 target of total global power originating from wind energy from 12% to 15-18%.
The development in the wind industry is still dependent on public subsidies and political willingness to support the industry. On the 2020 horizon, action plans have been put in place globally.
The EU has ambitions of 20% renewable energy by 2020, whereas China and Japan have specific plans for increasing wind energy capacity.
The US has a target of 80% renewable energy by 2035, which includes 54 GW of offshore energy by 2030.”