GLOBAL WIND REPORT 2022

• Recently, the Global Wind Report for 2022 was published by the Global Wind Energy Council (GWEC).
• GWEC was established in 2005 to provide a credible and representative forum for the entire wind energy sector at an international level.Wind Energy Installations Must Quadruple Every Year:
• Wind energy installations every year across the world must quadruple from the 94 GW (Gigawatt) installed in 2021 within this decade to meet the global climate targets.
• Without the necessary amplification, restricting global warming over pre-industrial levels to 1.5 degrees Celsius — a target set by the Paris Agreemen — and achieving Net Zero emissions by 2050 may become difficult.
• New installations of 93.6 GW in 2021 brought global cumulative wind energy capacity to 837 GW, a Year-on-Year (YoY) growth of 12%.
• The onshore wind market added 72.5 GW worldwide. That is 18% lower than the previous year due to a slowdown in China and the US, the world’s two largest wind markets.
• The offshore wind market enjoyed its best ever year in 2021, with 21.1GW commissioned.
• New offshore installations in 2022 are likely to decline to the 2019 / 2020 levels.
• Decline will be primarily due to the reduction of installations in China.
• However, market growth is expected to regain momentum from 2023, eventually passing the 30GW-mark in 2026.
• Offshore wind energy generation increases return on investment, along with reducing greenhouse gas emissions
• Carbon dioxide emissions can reduce by 0.3-1.61 gigatonnes every year by 2050 if offshore wind energy generation is scaled up.

Challenges to Growth of the Wind Energy Sector

1. Inconsistent policy environments focused on short-term political aims.
2. Badly designed markets which do not enable bankable renewable energy projects.
3. Infrastructure and transmission bottlenecks.
4. A lack of adequate industrial and trade policies related to renewable technologies
5. Hostile political or misinformation campaigns.

Scope of the Wind Energy Sector in India

• In India, more than 1.4 GW of wind was installed in 2021, exceeding the 1.1 GW of installations during the previous year.
• The Government has set a target of installing 5 GW of offshore capacity by 2022 and 30 GW by 2030.
• India is yet to develop its offshore wind energy facility.
• India can generate 127 GW of offshore wind energy with its 7,600 km of coastline.
• Onshore wind energy refers to turbines that are located on land and use wind to generate electricity.
• Offshore wind energy is the energy generated from the wind at sea.
• The Indian wind market outlook for 2022 and 2023 is projected at 3.2 GW and 4.1 GW of onshore wind installations, respectively.

Way Forward

• Governments need to tackle issues such as planning barriers and grid connection challenges.
• To sustain and increase growth in wind-based generation capacity, policymakers need to streamline the procedures to grant permits, including land allocation and grid connection projects.

SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT