Wind Power by Country in 2023: Top 15
This article covers Wind Power by Country in 2023: Top 15, offering detailed insights into the countries dominating the wind energy market in the current year. You can skip this part and read Wind Power by Country in 2023: Top 5.
Wind energy helps to avoid 329 million metric tons of carbon dioxide emissions annually, which is equivalent to the emissions of 71 million cars. These emissions can cause acid rain, smog, and greenhouse gases. In addition, wind power, being a renewable energy source, helps countries such as the United States reduce their reliance on fossil fuels.
Global Wind Power Data
According to the Global Wind Energy Council, 77.6 gigawatts (GW) of new wind power capacity was connected to power grids worldwide in 2022, bringing the total installed wind capacity to 906 GW, a 9% increase from 2021.
The top five markets for new wind installations in 2022 were China, the United States, Brazil, Germany, and Sweden, which accounted for 71% of global wind installations last year, down 3.7% from 2021.
This decline was primarily due to the world's two largest wind markets, China and the United States, losing a combined 5% market share compared to the previous year. This is the second consecutive year that both countries have lost market share.
Meanwhile, the global grid-connected wind power capacity is expected to grow at a compound annual growth rate (CAGR) of 10.1% to reach 2.38 terawatts (TW) by 2032, driven by increased activity in Western markets and Africa.
This long-term growth in cumulative installed wind power capacity will occur despite short-term challenges that have caused a net downgrade of 10.1 gigawatts (GW) from 2023 to 2025.
Moreover, the wind industry has proven to be a critical driver of local economic development, creating skilled jobs, maintaining essential infrastructure, and significantly reducing carbon emissions while providing clean, affordable, and reliable energy.
The U.S. wind industry employs over 120,000 people across all 50 states, and this number is growing rapidly. According to the U.S. Bureau of Labor Statistics, wind turbine service technicians are the second-fastest-growing job in the U.S.
Meanwhile, Morocco is expected to create 75,000 new jobs in another part of the world and contribute $1.2 billion to the country's economy over the next four years, according to a report by the Global Wind Energy Council (GWEC).
Wind Power Installations and Technology
Countries are building new renewable energy plants with the rising need to reduce emissions and reach their net-zero targets in the coming decades. Consequently, the United States and Europe aim to achieve net-zero emissions by 2050, while Saudi Arabia and the UAE, the two largest economies in the Arab world, plan to reach the target by 2060 and 2050, respectively.
As a result, the wind power sector is experiencing significant growth. For example, in August 2023, Equinor (NYSE:EQNR)'s Hywind Tampen wind farm, the world's largest floating offshore wind farm, opened with 11 wind turbines and a capacity of 88 MW, which meets about 35% of the annual power demand for oil and gas fields in the North Sea.
Moreover, the wind farm is expected to reduce CO2 emissions by 200,000 tonnes annually. Experts believe that with Hywind Tampen, Equinor (NYSE:EQNR) has successfully demonstrated its ability to plan, build, and commission a large, floating offshore wind farm in the North Sea.
Equinor (NYSE:EQNR) has an annual production of around 105 gigawatt-hours (GWh) of power. To utilize this power to its full potential, the company is considering expanding its portfolio in Poland by acquiring a 26 MW onshore wind farm.
Meanwhile, the clean energy technologies market is expected to grow by $94.99 billion from 2022 to 2027 at a compound annual growth rate (CAGR) of 5.94%, according to Technavio. For this reason, the wind power sector is also leveraging the advancements in AI and technology to maximize potential.
One example is General Electric (NYSE:GE), the American multinational conglomerate which developed a cutting-edge AI/ML tool in 2022. The tool was designed to help the global wind industry save billions of dollars in logistics costs over the next decade.
Moreover, the General Electric (NYSE:GE) scientists who developed cutting-edge AI/ML technology won the prestigious Manufacturing Leadership Award (MLA) from the National Association of Manufacturers.
With this new tool, General Electric (NYSE:GE) revealed that a digital twin of the wind turbine logistics process could accurately predict and optimize logistics costs. Based on current industry growth projections, this could enable a 10% reduction in logistics costs for the global wind industry, saving up to $2.6 billion annually by 2030.
A close up of a wind turbine producing electricity as the sun sets. Editorial photo for a financial news article. 8k. --ar 16:9
Methodology
We compiled a list of the top countries with wind power generation capacity. To determine the countries with the most wind power generation worldwide, we used two metrics as major indicators: installed wind power capacity (MW) in 2022 and share of wind power as total consumption.
The share of wind power as total consumption is a metric that measures the percentage of electricity generated from wind energy relative to the overall electricity consumption in a given region or country. For example, if Ireland has a 34% share of wind power, 34% of the electricity consumed in Ireland comes from wind turbines.
We wanted to find the countries that scored the highest on these indicators because of their wind power generation capacity and overall consumption. We assigned equal weights of 0.5 to each metric to reach accurate rankings. We then calculated a weighted average score for each country and ranked the countries with the highest scores on these metrics. We collected data on the relevant metrics from different websites. We got installed wind power capacity (MW) from 2022 from Irena.org and share of wind power as total consumption from Visual Capitalist. Below is our complete list of wind power by country in 2023: top 15.
Wind Power by Country in 2023: Top 15
15. India
Installed Wind Power Capacity (MW) 2022: 41,930
Share of Wind Power as Total Consumption: 8%
Final Score: 15.5
India's wind energy sector is booming, so it is on the list of countries with top wind power capacity. The country recorded that as of June 2023, installed capacity reached an impressive 43,773 megawatts (MW). Furthermore, India’s focus on sustainable energy sources has resulted in a substantial 71,814 million units of electricity generated from wind energy during the fiscal year 2022-23.
14. Greece
Installed Wind Power Capacity (MW) 2022: 4,879
Share of Wind Power as Total Consumption: 28.7%
Final Score: 14
Greece's installed wind power capacity reached 4,456 megawatts (MW) at the end of 2021, an 8% increase over 2020. Notably, IEA Wind TCP revealed that wind energy remained the most significant domestic energy source for the Greek Electricity system, providing 18.9% of total demand.
In addition, GlobalData forecasts that installed capacity will continue to increase from 2022 to 2035, with wind power expected to account for 27% of total installed generation capacity by 2035. Meanwhile, onshore wind power capacity has grown at a compound annual growth rate (CAGR) of 12% from 2010 to 2021 and is expected to grow at a CAGR of 6% from 2021 to 2035.
13. Ireland
Installed Wind Power Capacity (MW) 2022: 4,619
Share of Wind Power as Total Consumption: 34%
Final Score: 13
Wind energy was the largest source of renewable energy in Ireland in 2021, according to the Sustainable Energy Authority of Ireland (SEAI). It was also the country’s largest and cheapest renewable electricity resource.
In 2020, wind energy provided over 86% of Ireland's renewable electricity and 36% of its total electricity demand. It is the second-largest source of electricity generation in Ireland after natural gas. Moreover, the country was one of the leading countries in using wind energy in 2021, ranking second worldwide after Denmark in 2020.
12. Portugal
Installed Wind Power Capacity (MW) 2022: 5,455
Share of Wind Power as Total Consumption: 31.5%
Final Score: 11.5
In January 2023, Portugal announced its plans to launch its first offshore wind power auction in the fourth quarter to reach 10 gigawatts (GW) of installed capacity by 2030.
Currently, the country has 7.3 GW of hydroelectric capacity and 5.6 GW of onshore wind capacity, which account for 83% of its total installed capacity. Moreover, it aims to have 80% of its electricity consumption come from renewable sources by 2026, up from around 60% in 2023.
11. Italy
Installed Wind Power Capacity (MW) 2022: 11,780
Share of Wind Power as Total Consumption: 16%
Final Score: 11.5
In 2022, Italy completed the construction of its first offshore wind farm, Beleolico Wind Turbine Park, located just off the coast of Taranto, securing a notable position on the list of countries with the highest wind power capacity in 2023. The plant consists of 10 turbines with a total capacity of 30 megawatts (MW), capable of producing over 58,000 megawatt-hours (MWh) per year, equivalent to the annual energy needs of 60,000 people.
10. Brazil
Installed Wind Power Capacity (MW) 2022: 24,163
Share of Wind Power as Total Consumption: 13.2%
Final Score: 11.5
In 2020, Brazil ranked third globally in wind power installations, adding three times more wind power capacity than in 2019, with 2.3 gigawatts (GW) of new capacity. The country also had the highest share of renewable energy (43%) in total final energy consumption (TFEC) among the G20 countries in 2020 due to its extensive use of bioenergy and hydropower, according to a global status report.
9. Netherlands
Installed Wind Power Capacity (MW) 2022: 8,688
Share of Wind Power as Total Consumption: 24.6%
Final Score: 11
According to GlobalData, wind power accounted for 16% of the Netherlands' total installed power generation capacity and 15% of total power generation in 2021. Installed capacity is expected to grow from 2022 to 2035, at which point wind power accounts for 30% of total installed generation capacity.
Moreover, onshore wind power capacity grew at a compound annual growth rate (CAGR) of 9% from 2010 to 2021 and is expected to readily increase at a CAGR of 7% between 2021 and 2035.
8. Australia
Installed Wind Power Capacity (MW) 2022: 10,134
Share of Wind Power as Total Consumption: 21.7%
Final Score: 11
Wind power generation in Australia grew by 20% in 2021 and has grown at an average rate of 15% per year over the past decade, according to Australian Wind Energy Statistics.
In addition, back in 2021, wind power accounted for 10% of Australia's total energy generation and more than one-third of its renewable energy generation, according to the Clean Energy Council of Australia.
The Council further divulged that the country had 9,126 megawatts (MW) of wind power generation capacity in 2022, all onshore. The same year, eight new wind farms were commissioned around Australia, representing 1,746 MW of new capacity, including Australia's largest, the 453 MW Coopers Gap Wind Farm in Queensland.
7. Sweden
Installed Wind Power Capacity (MW) 2022: 14,557
Share of Wind Power as Total Consumption: 16.6%
Final Score: 10.5
The International Energy Agency's Wind Technology Collaboration Program (IEA Wind TCP) in Sweden reported that the country installed 2,042 megawatts (MW) of new wind energy capacity in 2021, up from 1,403 MW in 2020.
By the end of 2021, the country had a total installed wind energy capacity of 12,116 MW, generated by 4,679 wind turbines.
6. China
Installed Wind Power Capacity (MW) 2022: 365,964
Share of Wind Power as Total Consumption: 11.2%
Final Score: 10.5
China's wind power capacity increased by an average of 178.6 terawatt hours (TWh) per year in 2021 and 2022, 350% more than the average annual increase from 2015 to 2020. As of January 2023, the country had a total installed wind power capacity of 278,353 megawatts (MW), according to data from the Global Energy Monitor (GEM).
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Disclosure. None. Wind Power by Country in 2023: Top 15 is originally published on Insider Monkey.