The global demand for electricity alone is projected to grow by nearly 80 percent between now and 2030. The over-reliance on fossil fuels and its environmental cost combined with wind energy becoming increasingly cost competitive rests the case firmly with wind.
A modern wind turbine produces 180 times more electricity at less than half the cost per kWh than the most efficient turbine 20 years ago. This staggering statistic points to wind energy’s coming of age and its onward journey of promise into a reliable and cost competitive, renewable energy source.
The maturing of the wind industry has led to more efficient value chains and growing economies of scale, and can already compete with coal and gas in certain circumstances. As the price of emitting Co2 rises, the relative cost of wind power has improved even more.
In burgeoning economies of Asia and countries like Brazil with a large populace, wind energy is making a massive difference. Consider this, the BJ Quanting Wind Farm in Beijing, China, which is powered by LM Wind Power’s wind turbine blades covers the electricity needs of a 100,000 families a year.
According to the IPCC - Intergovernmental Panel on Climate Change, hazardous greenhouse gas emissions from fossil fuels are set to increase anywhere between 25-90% in the next 25 years if action is not taken immediately to halt the development. The power sector currently accounts for over 40% of global Co2 emissions.
If nothing is done to change the fuel mix, Co2 emissions from power generation will increase by more than 60% by 2030. This is where wind can help make a difference.