14 Nov Wind to become EU’s largest source of power by 2027
The International Energy Agency (IEA) has predicted that wind will become the largest source of power in the European Union by 2027 in its World Energy Outlook 2018 report.
This latest forecast has fast-forwarded wind’s climb to the number one spot by three years, after the Paris-based policy advisor predicted it occurring ‘soon after 2030’ in its 2017 outlook.
Wind will overtake coal, nuclear and gas in the process of becoming the EU’s primary source of power, with wind electricity generation in the EU predicted to more than triple to 1,100TWh by 2040.
Giles Dickson, CEO of regional industry body WindEurope, said: “This is a resounding vote of confidence in the further expansion of wind power in Europe.
“We’ve long been saying that more wind makes economic sense, as we’re the cheapest form of new power. It’s great that the IEA now sees wind being the number one source of electricity in Europe in less than ten years.
“That’ll mean new wind farms and modernisation of existing ones, all of which will bring jobs, growth and revenues to local communities.”
Meanwhile, the IEA noted that falling costs and supportive government policies have helped renewables to become the ‘technology of choice’ in power markets worldwide. The agency went on to forecast that by 2040, almost two-thirds of global capacity additions will be from renewable sources.