Recently, the Global Wind Energy Council released the biennial Global Wind Energy Outlook, which reports on scenarios where wind energy could supply 20% of global electricity by 2030. It explores the future of the wind industry in 2020, 2030 and 2050 and refers to the importance of the Paris Agreement, impacting the global market.
As the Paris Agreement comes into force, it is imperative that countries and leaders fully understand the commitments made last December. This includes understanding the role that wind power will play in achieving a completely decarbonised electricity supply before 2050. Meeting these targets predicts that this could happen as soon as 2030. This would result in the creation of 2.4 million new jobs and reduce CO2 emissions by more than 3.3 billion tonnes per year. If these targets are met, it would also have a positive impact on the markets, by attracting annual investments of about €200 billion.
One notably large energy supplier that also supplies wind energy, is SSE Enterprise. Founded in 1998, its aim is to provide energy to people in a reliable and sustainable way. SSE currently has a number of onshore and offshore wind farms in the UK and Ireland, and have ongoing projects to construct more. The commitments made in the Paris Agreement therefore suggests that the aim for companies, such as SSE, to construct significantly more wind farms in future, will become heavily focused on.
The report discusses how the demand for renewable energy has led to dramatic price decrease in the renewable energy sector. This suggests that an entirely decarbonized power sector is not only technically feasible, but is economically competitive as well. One sector that will particularly benefit from renewable energy, is the transport sector. As electric mobility continues to grow, wind power is in pole position to supply this future power demand, which means the wind industry would play a key part in the energy sector in the near future.
In recent years, this drop in price has paved the way for new markets to emerge globally, across Africa, Asia and Latin America. The goal is to supply clean energy to support sustainable development on a large scale. In addition to these new markets emerging, the report demonstrates how it will deliver in terms of CO2 emissions savings, employment, cost reductions, and investment. How can your organisation contribute to this goal? And what exactly does the possibility of a completely decarbonised electricity supply mean for your business?