Graph of the Day: Global onshore wind installs headed for 53GW a year

Bloomberg New Energy Finance has estimated that the world will add an average of 50-53 gigawatts of new onshore wind energy capacity a year out to 2020.

In the graph below, BNEF paints a year on year picture of the gigawatt amount of wind energy capacity that has either been fully commissioned, secured finance, is permitted, has been proposed, or is yet to be announced.

The graph also shows the slump in wind power installations that occurred in 2013, as well as the rebound in 2014 that Global Data last month predicted would continue to see cumulative wind power capacity more than double by 2020.

As reported here last month, research firm Global Data released figures suggesting wind power would increase from from 319.6 Gigawatts (GW) at the end of 2013 to 678.5 GW by 2020.

China, the largest single wind power market responsible for 45 per cent of total global annual capacity additions in 2013, is expected to have a cumulative wind capacity of 239.7 GW by 2020.China recently overtook the US as the leading market for installations in 2010, when it added 18.9 GW of wind capacity.

The report, released ahead of Global Wind Day, also predicted that the US would remain the second largest global wind power market, in terms of cumulative installed capacity, growing from 68.9 GW in 2014 to 104.1 GW in 2020.

This growth was largely expected to be driven by renewable energy targets in several US states, such as Alaska’s 50% renewables goal and Texas’ mandate to achieve 10GW of renewable capacity, both by 2025.